9,370 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Purchased by AXQ Capital LP

AXQ Capital LP acquired a new stake in QuidelOrtho Co. (NASDAQ:QDEL) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 9,370 shares of the company’s stock, valued at approximately $417,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after purchasing an additional 844 shares in the last quarter. Spire Wealth Management purchased a new position in shares of QuidelOrtho during the fourth quarter valued at $74,000. KBC Group NV raised its holdings in shares of QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after acquiring an additional 1,895 shares in the last quarter. Captrust Financial Advisors purchased a new stake in QuidelOrtho in the third quarter worth about $238,000. Finally, CIBC Asset Management Inc bought a new position in QuidelOrtho during the 3rd quarter worth about $262,000. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Trading Up 2.2 %

QuidelOrtho stock opened at $35.93 on Friday. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $49.45. The stock has a market cap of $2.42 billion, a PE ratio of -1.19 and a beta of 0.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The stock has a 50-day moving average of $40.78 and a two-hundred day moving average of $41.70.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. On average, research analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

QDEL has been the subject of several research reports. UBS Group upped their price target on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Royal Bank of Canada cut their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group started coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective for the company. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. Finally, StockNews.com lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.20.

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.