Deutsche Bank AG Has $12.55 Million Holdings in QuidelOrtho Corporation (NASDAQ:QDEL)

Key Points

• Deutsche Bank AG increased its stake in QuidelOrtho Corporation by 215.2% during the first quarter, acquiring a total of 358,889 shares valued at approximately $12.55 million.
• QuidelOrtho reported a quarterly earnings per share of $0.12, significantly exceeding the consensus estimate of $0.01, but experienced a 3.6% decline in revenue compared to the previous year.
• Analyst ratings for QuidelOrtho vary, with the consensus showing a rating of "Hold" and a price target of $42.17, indicating a cautious outlook amidst recent adjustments from various financial firms.

Deutsche Bank AG increased its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 215.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 358,889 shares of the company's stock after purchasing an additional 245,033 shares during the period. Deutsche Bank AG owned 0.53% of QuidelOrtho worth $12,550,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC raised its holdings in QuidelOrtho by 75.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock valued at $166,000 after acquiring an additional 1,601 shares during the last quarter. Principal Financial Group Inc. raised its holdings in QuidelOrtho by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 326,996 shares of the company's stock valued at $11,435,000 after acquiring an additional 7,788 shares during the last quarter. Yousif Capital Management LLC raised its holdings in QuidelOrtho by 2.9% in the 1st quarter. Yousif Capital Management LLC now owns 25,950 shares of the company's stock valued at $907,000 after acquiring an additional 734 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of QuidelOrtho by 108.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,012 shares of the company's stock valued at $2,483,000 after buying an additional 36,867 shares during the period. Finally, Northern Trust Corp grew its stake in shares of QuidelOrtho by 36.2% during the 4th quarter. Northern Trust Corp now owns 431,710 shares of the company's stock valued at $19,233,000 after buying an additional 114,850 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Stock Performance

Shares of QDEL traded down $0.02 during mid-day trading on Friday, reaching $25.93. 975,491 shares of the company's stock traded hands, compared to its average volume of 1,590,945. QuidelOrtho Corporation has a 12 month low of $22.05 and a 12 month high of $49.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12. The stock has a market capitalization of $1.76 billion, a P/E ratio of -3.96 and a beta of -0.04. The business's 50-day moving average price is $27.48 and its 200-day moving average price is $31.74.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.11. The business had revenue of $613.90 million for the quarter, compared to analyst estimates of $612.36 million. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The business's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) earnings per share. Equities analysts predict that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on QDEL shares. UBS Group lowered their price objective on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Jefferies Financial Group raised shares of 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. Citigroup lowered their price objective on shares of QuidelOrtho from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, Wall Street Zen cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $42.17.

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.