Nuveen Asset Management LLC Has $9.37 Million Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Nuveen Asset Management LLC increased its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 21.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 210,207 shares of the company's stock after purchasing an additional 36,826 shares during the period. Nuveen Asset Management LLC owned 0.31% of QuidelOrtho worth $9,365,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. grew its holdings in QuidelOrtho by 19.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock worth $500,690,000 after purchasing an additional 1,840,667 shares during the period. Vanguard Group Inc. grew its holdings in QuidelOrtho by 12.6% during the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after purchasing an additional 764,900 shares during the period. Invesco Ltd. grew its holdings in QuidelOrtho by 71.7% during the fourth quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock worth $153,584,000 after purchasing an additional 1,439,293 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in shares of QuidelOrtho by 5.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,977,697 shares of the company's stock worth $88,106,000 after acquiring an additional 100,522 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of QuidelOrtho by 14.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company's stock worth $62,666,000 after acquiring an additional 173,174 shares during the period. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL traded down $1.02 during midday trading on Monday, reaching $29.65. The company's stock had a trading volume of 881,532 shares, compared to its average volume of 1,084,422. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. QuidelOrtho Co. has a fifty-two week low of $23.77 and a fifty-two week high of $49.45. The business's 50 day moving average price is $29.86 and its two-hundred day moving average price is $37.29. The company has a market cap of $2.01 billion, a P/E ratio of -0.98 and a beta of 0.13.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QDEL. UBS Group reduced their price objective on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a report 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 report on Thursday, May 8th. JPMorgan Chase & Co. reduced their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Royal Bank of Canada reduced their price objective on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Finally, Wall Street Zen cut QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, QuidelOrtho currently has an average rating of "Hold" and an average target price of $44.33.

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.