Integral Health Asset Management LLC Boosts Stake in QuidelOrtho Co. (NASDAQ:QDEL)

Integral Health Asset Management LLC lifted its stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,000 shares of the company's stock after acquiring an additional 25,000 shares during the quarter. Integral Health Asset Management LLC owned 0.22% of QuidelOrtho worth $6,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position 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 worth $500,690,000 after purchasing an additional 1,840,667 shares during the period. Vanguard Group Inc. grew its holdings in shares of QuidelOrtho by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after acquiring an additional 764,900 shares during the period. Invesco Ltd. increased its position in QuidelOrtho by 71.7% during the fourth quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock valued at $153,584,000 after acquiring an additional 1,439,293 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in QuidelOrtho by 5.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,977,697 shares of the company's stock valued at $88,106,000 after acquiring an additional 100,522 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in QuidelOrtho by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company's stock valued at $62,666,000 after acquiring an additional 173,174 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

NASDAQ:QDEL traded down $0.52 on Thursday, reaching $33.03. 1,402,726 shares of the company's stock traded hands, compared to its average volume of 1,065,782. The stock has a 50-day simple moving average of $31.27 and a 200-day simple moving average of $38.11. QuidelOrtho Co. has a 12 month low of $23.77 and a 12 month high of $49.45. The firm has a market cap of $2.23 billion, a PE ratio of -1.09 and a beta of 0.13. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released 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. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The firm had revenue of $692.80 million during the quarter, compared to analysts' expectations of $694.97 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm's revenue was down 2.6% on a year-over-year basis. Equities research analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on QDEL shares. StockNews.com downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Royal Bank of Canada reduced their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Jefferies Financial Group upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a research 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 research note on Monday, April 21st. Finally, UBS Group lowered their price objective on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. One investment 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. According to MarketBeat.com, the stock has a consensus 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.