10,269 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,269 shares of the company's stock, valued at approximately $457,000.

Several other institutional investors have also recently added to or reduced their stakes in QDEL. Quarry LP bought a new position in shares of QuidelOrtho in the fourth quarter worth about $43,000. Blue Trust Inc. raised its stake in shares of QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after acquiring an additional 844 shares during the last quarter. Spire Wealth Management bought a new position in shares of QuidelOrtho in the fourth quarter worth about $74,000. KBC Group NV raised its stake in shares of QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock worth $153,000 after acquiring an additional 1,895 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of QuidelOrtho by 75.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock worth $166,000 after acquiring an additional 1,601 shares during the last quarter. 99.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target for the company in a research report on Thursday, May 8th. Royal Bank of Canada lowered their price target 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. UBS Group lowered their price target on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Wall Street Zen cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Finally, JPMorgan Chase & Co. lowered their price target on shares of 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, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $44.33.

QuidelOrtho Trading Up 1.4%

NASDAQ QDEL traded up $0.44 during trading on Wednesday, reaching $31.70. 1,483,197 shares of the stock traded hands, compared to its average volume of 1,078,364. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -1.05 and a beta of 0.13. The stock's 50-day moving average price is $30.26 and its 200 day moving average price is $37.56. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a fifty-two week low of $23.77 and a fifty-two week high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.13. The firm had revenue of $692.80 million during the quarter, compared to analysts' expectations of $694.97 million. QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. The business's revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. Analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current year.

QuidelOrtho 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.