Wealth Enhancement Advisory Services LLC Grows Stake in QuidelOrtho Co. (NASDAQ:QDEL)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 128.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,612 shares of the company’s stock after purchasing an additional 8,772 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in QuidelOrtho were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in QDEL. Rubric Capital Management LP raised its stake in QuidelOrtho by 51.9% in the second quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company’s stock valued at $121,106,000 after buying an additional 1,245,590 shares during the last quarter. Maverick Capital Ltd. grew its stake in shares of QuidelOrtho by 27.5% during the second quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock worth $57,434,000 after acquiring an additional 372,662 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of QuidelOrtho during the second quarter valued at about $8,896,000. Private Management Group Inc. raised its position in shares of QuidelOrtho by 132.0% in the 1st quarter. Private Management Group Inc. now owns 457,852 shares of the company’s stock valued at $21,949,000 after purchasing an additional 260,508 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in QuidelOrtho in the 3rd quarter worth approximately $7,411,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Stock Up 1.1 %

QDEL stock opened at $39.96 on Thursday. The company has a market capitalization of $2.69 billion, a P/E ratio of -1.44 and a beta of 0.12. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $75.86. The firm’s fifty day simple moving average is $42.34 and its 200-day simple moving average is $40.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79.

Analyst Upgrades and Downgrades

QDEL has been the topic of a number of recent analyst reports. UBS Group initiated coverage on shares of QuidelOrtho in a research note on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of QuidelOrtho in a research report on Friday, August 16th. Finally, Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $58.83.

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.