Segall Bryant & Hamill LLC Buys 242,069 Shares of QuidelOrtho Corporation (NASDAQ:QDEL)

Segall Bryant & Hamill LLC boosted its stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,288,718 shares of the company's stock after buying an additional 242,069 shares during the quarter. QuidelOrtho makes up about 0.7% of Segall Bryant & Hamill LLC's investment portfolio, making the stock its 19th largest position. Segall Bryant & Hamill LLC owned 1.91% of QuidelOrtho worth $45,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Voya Investment Management LLC boosted its stake in QuidelOrtho by 7.7% in the 4th quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock valued at $336,000 after buying an additional 538 shares in the last quarter. Corient Private Wealth LLC boosted its stake in QuidelOrtho by 10.6% in the 4th quarter. Corient Private Wealth LLC now owns 6,874 shares of the company's stock valued at $306,000 after buying an additional 661 shares in the last quarter. Yousif Capital Management LLC boosted its stake in QuidelOrtho by 2.9% in the 1st quarter. Yousif Capital Management LLC now owns 25,950 shares of the company's stock valued at $907,000 after buying an additional 734 shares in the last quarter. Rhumbline Advisers boosted its stake in QuidelOrtho by 0.6% in the 1st quarter. Rhumbline Advisers now owns 129,025 shares of the company's stock valued at $4,512,000 after buying an additional 770 shares in the last quarter. Finally, True Wealth Design LLC raised its position in QuidelOrtho by 300.7% in the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $48,000 after purchasing an additional 806 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

Analyst Upgrades and Downgrades

QDEL has been the subject of several research analyst reports. UBS Group cut their price objective on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Wall Street Zen upgraded QuidelOrtho from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, 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 research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, QuidelOrtho currently has an average rating of "Moderate Buy" and an average price target of $44.33.

QuidelOrtho Trading Down 1.4%

Shares of QDEL stock traded down $0.38 on Wednesday, reaching $27.57. 1,296,588 shares of the stock were exchanged, compared to its average volume of 1,146,218. The stock has a market cap of $1.86 billion, a PE ratio of -5.55 and a beta of 0.07. QuidelOrtho Corporation has a one year low of $23.77 and a one year high of $49.45. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.20 and a quick ratio of 0.66. The stock has a 50 day moving average price of $30.53 and a 200 day moving average price of $34.75.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.13. The company had revenue of $692.80 million during the quarter, compared to the consensus estimate of $694.97 million. QuidelOrtho had a positive return on equity of 4.71% and a negative net margin of 12.07%. The firm's quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 earnings per share. Equities research analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

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.