Swiss National Bank Grows Position in QuidelOrtho Co. (NASDAQ:QDEL)

Swiss National Bank boosted its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 19.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,240 shares of the company’s stock after buying an additional 21,100 shares during the quarter. Swiss National Bank owned 0.20% of QuidelOrtho worth $5,891,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in shares of QuidelOrtho during the third quarter valued at approximately $34,320,000. Rubric Capital Management LP boosted its holdings in QuidelOrtho by 15.2% in the third quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock worth $191,520,000 after purchasing an additional 554,410 shares during the last quarter. Beaconlight Capital LLC bought a new stake in QuidelOrtho in the 3rd quarter worth approximately $18,152,000. State Street Corp raised its stake in QuidelOrtho by 16.9% during the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after buying an additional 275,522 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of QuidelOrtho by 28.0% during the 3rd quarter. FMR LLC now owns 1,256,356 shares of the company’s stock valued at $57,290,000 after buying an additional 274,633 shares during the period. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

QDEL opened at $35.93 on Monday. The company has a 50 day simple moving average of $40.78 and a two-hundred day simple moving average of $41.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The firm has a market cap of $2.42 billion, a P/E ratio of -1.19 and a beta of 0.10. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last posted 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%. Equities analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Jefferies Financial Group initiated coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective for the company. 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 research report on Thursday, February 13th. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. UBS Group upped their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, StockNews.com cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.20.

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.