Bank of Montreal Can Has $504,000 Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Bank of Montreal Can trimmed its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 92.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,305 shares of the company's stock after selling 130,684 shares during the period. Bank of Montreal Can's holdings in QuidelOrtho were worth $504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in shares of QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after purchasing an additional 844 shares during the last quarter. Spire Wealth Management bought a new position in QuidelOrtho in the 4th quarter valued at $74,000. KBC Group NV boosted its position in QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after buying an additional 1,895 shares during the last quarter. LPL Financial LLC bought a new stake in shares of QuidelOrtho during the fourth quarter worth $221,000. Finally, CIBC Asset Management Inc lifted its stake in shares of QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock valued at $292,000 after acquiring an additional 816 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Trading Up 1.1 %

Shares of NASDAQ QDEL traded up $0.31 during midday trading on Friday, reaching $28.09. 1,190,998 shares of the stock were exchanged, compared to its average volume of 998,114. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. QuidelOrtho Co. has a 12 month low of $23.77 and a 12 month high of $49.45. The business has a 50-day simple moving average of $33.62 and a two-hundred day simple moving average of $38.92. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -0.93 and a beta of 0.43.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. As a group, equities research analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current year.

Analyst Upgrades and Downgrades

QDEL has been the subject of several recent research reports. UBS Group boosted their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Royal Bank of Canada lowered 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. Finally, StockNews.com downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $46.83.

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.