Moody National Bank Trust Division Grows Position in QuidelOrtho Co. (NASDAQ:QDEL)

Moody National Bank Trust Division lifted its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 29.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,901 shares of the company's stock after buying an additional 11,033 shares during the quarter. Moody National Bank Trust Division owned approximately 0.07% of QuidelOrtho worth $1,710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in QDEL. T. Rowe Price Investment Management Inc. boosted its holdings in QuidelOrtho by 19.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock valued at $500,690,000 after purchasing an additional 1,840,667 shares in the last quarter. Invesco Ltd. boosted its holdings in QuidelOrtho by 71.7% in the fourth quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock valued at $153,584,000 after purchasing an additional 1,439,293 shares in the last quarter. Norges Bank acquired a new position in QuidelOrtho in the fourth quarter valued at approximately $34,171,000. Vanguard Group Inc. boosted its holdings in QuidelOrtho by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock valued at $303,716,000 after purchasing an additional 764,900 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in QuidelOrtho by 143.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,046,649 shares of the company's stock valued at $46,628,000 after purchasing an additional 617,592 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Stock Performance

NASDAQ QDEL traded down $0.10 on Friday, reaching $30.65. The stock had a trading volume of 1,323,678 shares, compared to its average volume of 1,085,243. 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 12-month low of $23.77 and a 12-month high of $49.45. The business's 50-day moving average price is $29.96 and its 200 day moving average price is $37.35. The stock has a market cap of $2.07 billion, a P/E ratio of -1.01 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 EPS for the quarter, topping 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 business had revenue of $692.80 million during the quarter, compared to analysts' expectations of $694.97 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company's quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group lowered their price target 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 raised QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target for the company in a report on Thursday, May 8th. Wall Street Zen cut QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. 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 research note on Monday, April 21st. Finally, 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 research note on Thursday, February 13th. 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 company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.