QuidelOrtho Co. (NASDAQ:QDEL) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 27.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 243,409 shares of the company's stock after buying an additional 53,125 shares during the quarter. Ameriprise Financial Inc. owned about 0.36% of QuidelOrtho worth $10,844,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of QDEL. Quarry LP purchased a new position in shares of QuidelOrtho in the 4th quarter valued at approximately $43,000. Blue Trust Inc. raised its holdings 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 buying an additional 844 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of QuidelOrtho during the fourth quarter worth $74,000. KBC Group NV grew its holdings in shares of QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after buying an additional 1,895 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in QuidelOrtho by 75.3% in the 4th 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 currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on QDEL shares. JPMorgan Chase & Co. cut their price target on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Jefferies Financial Group upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price for the company in a research report on Thursday, May 8th. Royal Bank of Canada cut their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Wall Street Zen cut QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Finally, UBS Group lowered their target price on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. One investment 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $44.33.

QuidelOrtho Price Performance

Shares of QDEL stock traded down $0.44 during mid-day trading on Friday, hitting $29.74. 1,380,448 shares of the stock were exchanged, compared to its average volume of 1,074,771. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.01 billion, a PE ratio of -0.98 and a beta of 0.13. The firm has a fifty day moving average of $30.44 and a 200 day moving average of $37.71.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.13. The company had revenue of $692.80 million for the quarter, compared to the consensus estimate 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 prior year, the business posted $0.44 earnings per share. Research analysts anticipate that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

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.