GAMMA Investing LLC Has $2.97 Million Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

GAMMA Investing LLC increased its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 3,377.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,047 shares of the company's stock after acquiring an additional 82,601 shares during the quarter. GAMMA Investing LLC owned approximately 0.13% of QuidelOrtho worth $2,974,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of QDEL. Moody National Bank Trust Division grew its stake in shares of QuidelOrtho by 29.1% in the first quarter. Moody National Bank Trust Division now owns 48,901 shares of the company's stock worth $1,710,000 after purchasing an additional 11,033 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of QuidelOrtho by 16.6% in the fourth quarter. California State Teachers Retirement System now owns 62,547 shares of the company's stock valued at $2,786,000 after acquiring an additional 8,889 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of QuidelOrtho by 118.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 34,145 shares of the company's stock valued at $1,521,000 after acquiring an additional 18,533 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in QuidelOrtho during the fourth quarter worth approximately $969,000. Finally, Public Employees Retirement System of Ohio lifted its position in QuidelOrtho by 10.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 23,156 shares of the company's stock worth $1,032,000 after purchasing an additional 2,129 shares during the period. Institutional investors own 99.00% of the company's stock.

Analysts Set New Price Targets

QDEL has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group raised QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a report on Thursday, May 8th. UBS Group reduced their price objective on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Wall Street Zen raised QuidelOrtho from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. decreased their price target on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.33.

QuidelOrtho Price Performance

Shares of NASDAQ:QDEL traded down $0.98 during midday trading on Friday, reaching $28.90. 927,957 shares of the company's stock were exchanged, compared to its average volume of 1,093,752. 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 company's 50 day simple moving average is $29.44 and its two-hundred day simple moving average is $36.85. QuidelOrtho Co. has a 12 month low of $23.77 and a 12 month high of $49.45. The firm has a market capitalization of $1.95 billion, a PE ratio of -0.95 and a beta of 0.10.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $692.80 million during the quarter, compared to analyst estimates of $694.97 million. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The business's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. Equities research 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.