Bayesian Capital Management LP Buys Shares of 17,400 QuidelOrtho Co. (NASDAQ:QDEL)

Bayesian Capital Management LP bought a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 17,400 shares of the company's stock, valued at approximately $775,000.

A number of other institutional investors and hedge funds have also made changes to their positions in QDEL. T. Rowe Price Investment Management Inc. boosted its holdings in QuidelOrtho by 19.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock worth $500,690,000 after buying an additional 1,840,667 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of QuidelOrtho by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after acquiring an additional 764,900 shares during the period. Invesco Ltd. increased its stake in QuidelOrtho by 71.7% in the 4th quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock valued at $153,584,000 after purchasing an additional 1,439,293 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in QuidelOrtho by 5.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,977,697 shares of the company's stock worth $88,106,000 after purchasing an additional 100,522 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in QuidelOrtho by 14.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company's stock worth $62,666,000 after purchasing an additional 173,174 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Stock Down 4.9 %

QDEL stock opened at $27.69 on Tuesday. QuidelOrtho Co. has a one year low of $23.77 and a one year high of $49.45. The stock has a market capitalization of $1.87 billion, a P/E ratio of -0.91 and a beta of 0.13. The company has a 50 day moving average price of $32.07 and a two-hundred day moving average price of $38.37. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on QDEL. UBS Group lifted 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. Royal Bank of Canada reduced their price target 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. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Finally, JPMorgan Chase & Co. reduced their target price on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $46.83.

QuidelOrtho Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.