Proficio Capital Partners LLC Makes New Investment in QuidelOrtho Co. (NASDAQ:QDEL)

Proficio Capital Partners LLC purchased a new position in QuidelOrtho Co. (NASDAQ:QDEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,557 shares of the company’s stock, valued at approximately $871,000.

A number of other hedge funds also recently modified their holdings of the stock. CIBC Asset Management Inc increased its position in shares of QuidelOrtho by 14.2% in the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company’s stock worth $292,000 after purchasing an additional 816 shares during the period. Blue Trust Inc. boosted 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 in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of QuidelOrtho by 14.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 9,985 shares of the company’s stock valued at $445,000 after purchasing an additional 1,289 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of QuidelOrtho during the fourth quarter valued at about $74,000. Finally, Victory Capital Management Inc. boosted its stake in shares of QuidelOrtho by 7.7% during the third quarter. Victory Capital Management Inc. now owns 23,404 shares of the company’s stock valued at $1,067,000 after purchasing an additional 1,667 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on QDEL. UBS Group lifted their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada cut their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Jefferies Financial Group started coverage on QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective on the stock. Finally, Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.20.

QuidelOrtho Trading Up 2.2 %

Shares of QDEL stock opened at $35.93 on Friday. The company has a market cap of $2.42 billion, a P/E ratio of -1.19 and a beta of 0.10. The stock has a 50 day simple moving average of $40.78 and a two-hundred day simple moving average of $41.69. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. Research analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share 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.