Cerity Partners LLC Has $3.18 Million Stock Holdings in QuidelOrtho Corporation (NASDAQ:QDEL)

Cerity Partners LLC increased its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 222.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,808 shares of the company's stock after buying an additional 62,644 shares during the quarter. Cerity Partners LLC owned about 0.13% of QuidelOrtho worth $3,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in QDEL. Proficio Capital Partners LLC acquired a new stake in QuidelOrtho during the fourth quarter worth about $871,000. Raymond James Financial Inc. acquired a new stake in QuidelOrtho during the fourth quarter worth about $2,169,000. Swiss National Bank increased its stake in QuidelOrtho by 19.0% during the fourth quarter. Swiss National Bank now owns 132,240 shares of the company's stock worth $5,891,000 after acquiring an additional 21,100 shares during the last quarter. Corient Private Wealth LLC increased its stake in QuidelOrtho by 10.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,874 shares of the company's stock worth $306,000 after acquiring an additional 661 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in QuidelOrtho by 12.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 50,947 shares of the company's stock worth $2,270,000 after acquiring an additional 5,540 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

QuidelOrtho Stock Performance

Shares of QDEL traded up $0.28 during mid-day trading on Monday, hitting $25.73. The stock had a trading volume of 628,344 shares, compared to its average volume of 1,150,081. The company has a market cap of $1.74 billion, a PE ratio of -5.18 and a beta of 0.07. The company's fifty day simple moving average is $30.12 and its two-hundred day simple moving average is $34.35. The company has a quick ratio of 0.66, a current ratio of 1.20 and a debt-to-equity ratio of 0.70. QuidelOrtho Corporation 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 released 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 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 4.71% and a negative net margin of 12.07%. The business's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, equities analysts expect that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on QDEL shares. UBS Group lowered their target price on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price objective for the company in a research note on Thursday, May 8th. Wall Street Zen upgraded QuidelOrtho from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, JPMorgan Chase & Co. lowered their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.33.

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.