LGT Capital Partners LTD. Has $70.34 Million Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

LGT Capital Partners LTD. grew its holdings in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 69.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 954,466 shares of the company's stock after purchasing an additional 392,790 shares during the period. QuidelOrtho makes up 2.1% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 15th largest position. LGT Capital Partners LTD. owned 1.43% of QuidelOrtho worth $70,344,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of QDEL. Money Concepts Capital Corp lifted its stake in QuidelOrtho by 66.8% during the 4th quarter. Money Concepts Capital Corp now owns 337 shares of the company's stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Global Retirement Partners LLC lifted its stake in QuidelOrtho by 109.0% during the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company's stock worth $26,000 after acquiring an additional 181 shares in the last quarter. Eagle Bay Advisors LLC lifted its stake in QuidelOrtho by 174.2% during the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company's stock worth $34,000 after acquiring an additional 223 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in QuidelOrtho by 48.6% during the 1st quarter. First Horizon Advisors Inc. now owns 822 shares of the company's stock worth $73,000 after acquiring an additional 269 shares in the last quarter. Finally, Covestor Ltd lifted its stake in QuidelOrtho by 104.6% during the 1st quarter. Covestor Ltd now owns 1,207 shares of the company's stock worth $136,000 after acquiring an additional 617 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Stock Down 0.7 %

Shares of QDEL traded down $0.32 during mid-day trading on Friday, reaching $47.94. The company's stock had a trading volume of 522,613 shares, compared to its average volume of 901,707. QuidelOrtho Co. has a 12-month low of $41.75 and a 12-month high of $98.67. The stock has a market cap of $3.20 billion, a PE ratio of -299.63 and a beta of 0.11. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.57 and a quick ratio of 0.88. The company's 50 day moving average is $54.11 and its 200 day moving average is $64.06.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.84). The firm had revenue of $742.60 million for the quarter, compared to analysts' expectations of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The company's quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.74 EPS. Equities analysts anticipate that QuidelOrtho Co. will post 2.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on QDEL shares. Raymond James reaffirmed an "outperform" rating and issued a $76.00 price target (down previously from $100.00) on shares of QuidelOrtho in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lowered QuidelOrtho from a "neutral" rating to an "underweight" rating and reduced their price target for the company from $66.00 to $37.00 in a research report on Wednesday, February 14th. Citigroup reaffirmed a "neutral" rating and issued a $72.00 price target (down previously from $95.00) on shares of QuidelOrtho in a research report on Monday, December 11th. Craig Hallum reaffirmed a "hold" rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada reduced their price target on QuidelOrtho from $130.00 to $81.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, QuidelOrtho has a consensus rating of "Hold" and a consensus price target of $61.60.

Insider Buying and Selling

In related news, CFO Joseph M. Busky acquired 2,150 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was bought at an average cost of $46.35 per share, with a total value of $99,652.50. Following the transaction, the chief financial officer now owns 2,150 shares of the company's stock, valued at $99,652.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

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.