Moody National Bank Trust Division Buys 11,033 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Moody National Bank Trust Division grew its position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 29.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 0.07% of QuidelOrtho worth $1,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its stake in QuidelOrtho by 19.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock valued at $500,690,000 after buying an additional 1,840,667 shares in the last quarter. Invesco Ltd. grew its position in shares of QuidelOrtho by 71.7% during the 4th 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 purchased a new position in shares of QuidelOrtho during the 4th quarter valued at $34,171,000. Vanguard Group Inc. grew its position 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 valued at $303,716,000 after purchasing an additional 764,900 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in QuidelOrtho by 143.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,046,649 shares of the company's stock worth $46,628,000 after acquiring an additional 617,592 shares in the last quarter. Institutional investors own 99.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group cut their price target on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Wall Street Zen lowered shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. JPMorgan Chase & Co. cut their price target on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Royal Bank of Canada cut their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, Jefferies Financial Group upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target for the company in a research report on Thursday, May 8th. One research 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.com, QuidelOrtho currently has a consensus rating of "Hold" and an average price target of $44.33.

QuidelOrtho Stock Up 2.5%

Shares of NASDAQ:QDEL traded up $0.73 during trading on Tuesday, reaching $30.38. 128,548 shares of the stock traded hands, compared to its average volume of 1,080,672. The stock has a 50-day moving average of $29.86 and a two-hundred day moving average of $37.29. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The stock has a market cap of $2.05 billion, a P/E ratio of -1.00 and a beta of 0.13.

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

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.