BNP Paribas Financial Markets Takes Position in QuidelOrtho Co. (NASDAQ:QDEL)

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

Other large investors have also bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in QuidelOrtho by 27.9% in the fourth quarter. Ameriprise Financial Inc. now owns 243,409 shares of the company's stock valued at $10,844,000 after purchasing an additional 53,125 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of QuidelOrtho by 5.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,977,697 shares of the company's stock valued at $88,106,000 after buying an additional 100,522 shares during the last quarter. Comerica Bank lifted its position in shares of QuidelOrtho by 4.5% during the 4th quarter. Comerica Bank now owns 50,840 shares of the company's stock valued at $2,265,000 after buying an additional 2,176 shares during the last quarter. AQR Capital Management LLC lifted its holdings in QuidelOrtho by 204.5% during the fourth quarter. AQR Capital Management LLC now owns 803,986 shares of the company's stock valued at $35,818,000 after purchasing an additional 539,977 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in QuidelOrtho by 36.2% during the fourth quarter. Northern Trust Corp now owns 431,710 shares of the company's stock valued at $19,233,000 after purchasing an additional 114,850 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Wall Street Zen downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a report on Thursday, May 8th. Royal Bank of Canada lowered their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, UBS Group lowered their target price on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, QuidelOrtho has an average rating of "Hold" and a consensus target price of $44.33.

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock traded down $0.24 on Friday, hitting $30.52. 104,478 shares of the company's stock were exchanged, compared to its average volume of 1,077,197. The stock has a market capitalization of $2.06 billion, a PE ratio of -1.01 and a beta of 0.13. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The company has a 50-day simple moving average of $30.17 and a 200-day simple moving average of $37.52. QuidelOrtho Co. has a 1 year low of $23.77 and a 1 year high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.13. The business had revenue of $692.80 million during the quarter, compared to analyst estimates of $694.97 million. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. QuidelOrtho'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 posted $0.44 earnings per share. As a group, equities analysts anticipate 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.