ArrowMark Colorado Holdings LLC Grows Stake in QuidelOrtho Co. (NASDAQ:QDEL)

ArrowMark Colorado Holdings LLC raised its position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,977,697 shares of the company's stock after purchasing an additional 100,522 shares during the quarter. QuidelOrtho accounts for about 1.2% of ArrowMark Colorado Holdings LLC's investment portfolio, making the stock its 25th biggest holding. ArrowMark Colorado Holdings LLC owned 2.94% of QuidelOrtho worth $88,106,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Voya Investment Management LLC increased its position in shares of QuidelOrtho by 7.7% during the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock valued at $336,000 after acquiring an additional 538 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of QuidelOrtho by 10.6% in the fourth quarter. Corient Private Wealth LLC now owns 6,874 shares of the company's stock worth $306,000 after purchasing an additional 661 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock valued at $292,000 after purchasing an additional 816 shares in the last quarter. Blue Trust Inc. boosted its position in shares of QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after buying an additional 844 shares during the last quarter. Finally, Quarry LP bought a new stake in QuidelOrtho in the 4th quarter worth about $43,000. 99.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QDEL. StockNews.com downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Royal Bank of Canada dropped their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. UBS Group raised their price target on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $46.83.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL traded down $1.75 during mid-day trading on Tuesday, reaching $25.94. The company's stock had a trading volume of 2,386,386 shares, compared to its average volume of 1,017,798. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. QuidelOrtho Co. has a 52 week low of $23.77 and a 52 week high of $49.45. The stock has a fifty day moving average of $32.07 and a two-hundred day moving average of $38.37. The firm has a market capitalization of $1.75 billion, a PE ratio of -0.86 and a beta of 0.13.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. As a group, sell-side analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

About QuidelOrtho

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.