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

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

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in QuidelOrtho in the 4th quarter worth $43,000. Blue Trust Inc. increased its holdings in QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after acquiring an additional 844 shares in the last quarter. Spire Wealth Management purchased a new stake in QuidelOrtho in the 4th quarter worth $74,000. KBC Group NV increased its holdings in QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock worth $153,000 after acquiring an additional 1,895 shares in the last quarter. Finally, Sterling Capital Management LLC increased 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 worth $166,000 after acquiring an additional 1,601 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group decreased their target price on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased 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 cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. 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, Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $44.33.

QuidelOrtho Trading Down 1.5%

QuidelOrtho stock traded down $0.44 during trading on Friday, reaching $29.74. 1,380,448 shares of the company were exchanged, compared to its average volume of 1,073,659. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45. The company has a market capitalization of $2.01 billion, a P/E ratio of -0.98 and a beta of 0.13. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The stock's 50 day simple moving average is $30.54 and its two-hundred day simple moving average is $37.80.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $692.80 million for the quarter, compared to the consensus estimate of $694.97 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm's revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal 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.