QuidelOrtho Co. (NASDAQ:QDEL) Shares Purchased by Oak Family Advisors LLC

Oak Family Advisors LLC grew its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 61.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,288 shares of the company's stock after purchasing an additional 31,016 shares during the quarter. QuidelOrtho makes up approximately 2.5% of Oak Family Advisors LLC's holdings, making the stock its 12th biggest position. Oak Family Advisors LLC owned about 0.12% of QuidelOrtho worth $5,991,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in QDEL. Vontobel Holding Ltd. purchased a new stake in QuidelOrtho in the fourth quarter worth about $299,000. Louisiana State Employees Retirement System bought a new stake in QuidelOrtho during the 4th quarter worth approximately $1,024,000. Perigon Wealth Management LLC bought a new stake in QuidelOrtho during the 4th quarter worth approximately $232,000. Allspring Global Investments Holdings LLC lifted its holdings in QuidelOrtho by 4.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 148,923 shares of the company's stock valued at $10,976,000 after purchasing an additional 6,401 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of QuidelOrtho by 7,410.5% in the fourth quarter. International Assets Investment Management LLC now owns 7,886 shares of the company's stock worth $581,000 after purchasing an additional 7,781 shares during the period. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Trading Down 1.7 %

QDEL traded down $0.72 on Monday, reaching $41.45. 551,123 shares of the company traded hands, compared to its average volume of 1,014,418. The firm has a fifty day simple moving average of $48.73 and a two-hundred day simple moving average of $61.80. The company has a quick ratio of 0.88, a current ratio of 1.57 and a debt-to-equity ratio of 0.45. QuidelOrtho Co. has a one year low of $41.23 and a one year high of $95.02. The company has a market cap of $2.77 billion, a P/E ratio of -258.75 and a beta of 0.11.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share 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 the consensus estimate of $796.91 million. QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The company's revenue for the quarter was down 14.3% on a year-over-year basis. During the same period last year, the firm earned $1.74 earnings per share. As a group, equities research analysts expect that QuidelOrtho Co. will post 2.36 earnings per share for the current year.

Insider Buying and Selling

In other QuidelOrtho news, CFO Joseph M. Busky bought 2,150 shares of QuidelOrtho stock in a transaction that occurred on Friday, February 23rd. The shares were 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 directly owns 2,150 shares of the company's stock, valued at approximately $99,652.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Craig Hallum reissued a "hold" rating on shares of QuidelOrtho in a report on Wednesday, February 14th. JPMorgan Chase & Co. cut shares of QuidelOrtho from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $66.00 to $37.00 in a research report on Wednesday, February 14th. Raymond James restated an "outperform" rating and set a $76.00 target price (down previously from $100.00) on shares of QuidelOrtho in a research report on Wednesday, February 14th. William Blair reiterated a "market perform" rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, UBS Group reissued a "sell" rating and set a $42.00 price objective (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $61.60.

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.