QuidelOrtho Co. (NASDAQ:QDEL) Position Boosted by Boothbay Fund Management LLC

Boothbay Fund Management LLC raised its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 216.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,589 shares of the company's stock after purchasing an additional 82,513 shares during the period. Boothbay Fund Management LLC owned 0.18% of QuidelOrtho worth $5,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of QuidelOrtho by 19.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock valued at $500,690,000 after purchasing an additional 1,840,667 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of QuidelOrtho by 12.6% during the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock valued at $303,716,000 after acquiring an additional 764,900 shares in the last quarter. Invesco Ltd. lifted its stake in shares of QuidelOrtho by 71.7% in the fourth quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock worth $153,584,000 after acquiring an additional 1,439,293 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in QuidelOrtho by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company's stock valued at $62,666,000 after purchasing an additional 173,174 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of QuidelOrtho by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,217,126 shares of the company's stock worth $54,221,000 after buying an additional 107,775 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock traded up $0.09 during trading on Thursday, hitting $27.88. 1,302,124 shares of the stock were exchanged, compared to its average volume of 1,066,354. The stock has a market cap of $1.88 billion, a PE ratio of -0.92 and a beta of 0.43. The stock's fifty day moving average is $32.86 and its 200 day moving average is $38.64. QuidelOrtho Co. has a 12 month low of $23.77 and a 12 month high of $49.45. 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 quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share 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 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.