QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lowered its holdings in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 57.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,856 shares of the company's stock after selling 153,431 shares during the quarter. Deutsche Bank AG owned 0.17% of QuidelOrtho worth $5,072,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its stake in shares of QuidelOrtho by 19.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock worth $500,690,000 after buying an additional 1,840,667 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of QuidelOrtho by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after buying an additional 764,900 shares during the last quarter. Invesco Ltd. raised its stake in shares of QuidelOrtho by 71.7% during the 4th quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock worth $153,584,000 after buying an additional 1,439,293 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake 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 worth $88,106,000 after buying an additional 100,522 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of QuidelOrtho by 14.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company's stock worth $62,666,000 after buying an additional 173,174 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Trading Down 1.5%

QDEL traded down $0.44 during midday trading on Friday, hitting $29.74. The company's stock had a trading volume of 1,380,448 shares, compared to its average volume of 1,074,771. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.01 billion, a P/E ratio of -0.98 and a beta of 0.13. The firm has a 50-day moving average price of $30.44 and a two-hundred day moving average price of $37.71. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada cut their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their target price 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. UBS Group cut their target price on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.