Parkman Healthcare Partners LLC Acquires 100,415 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Parkman Healthcare Partners LLC boosted its holdings in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 133.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,415 shares of the company's stock after buying an additional 100,415 shares during the period. Parkman Healthcare Partners LLC owned approximately 0.26% of QuidelOrtho worth $7,815,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Quarry LP acquired a new stake in QuidelOrtho during the fourth quarter valued at approximately $43,000. Blue Trust Inc. increased its position in QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after acquiring an additional 844 shares in the last quarter. Spire Wealth Management acquired a new position in shares of QuidelOrtho during the fourth quarter valued at $74,000. KBC Group NV grew its stake in shares of QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock worth $153,000 after purchasing an additional 1,895 shares during the period. Finally, Sterling Capital Management LLC grew its position in shares of QuidelOrtho by 75.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock worth $166,000 after buying an additional 1,601 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QDEL has been the subject of a number of recent analyst reports. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Royal Bank of Canada reduced their price target 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. UBS Group reduced their target price on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Finally, Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $44.33.

QuidelOrtho Stock Down 5.1%

QuidelOrtho stock opened at $35.51 on Wednesday. QuidelOrtho Co. has a twelve month low of $23.77 and a twelve month high of $49.45. The stock has a market cap of $2.40 billion, a P/E ratio of -1.17 and a beta of 0.13. The company's 50-day moving average price is $31.36 and its two-hundred day moving average price is $38.13. 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 quarterly earnings results on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.61 by $0.13. QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. The business had revenue of $692.80 million for the quarter, compared to the consensus estimate of $694.97 million. During the same period in the prior year, the company posted $0.44 earnings per share. QuidelOrtho's revenue was down 2.6% compared to the same quarter last year. As a group, analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current year.

QuidelOrtho 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.