Bfsg LLC Takes Position in QuidelOrtho Co. (NASDAQ:QDEL)

Bfsg LLC bought a new stake in QuidelOrtho Co. (NASDAQ:QDEL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,975 shares of the company’s stock, valued at approximately $146,000.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC grew its holdings in shares of QuidelOrtho by 109.0% in the third quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock valued at $26,000 after acquiring an additional 181 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of QuidelOrtho during the third quarter worth $106,000. Cetera Trust Company N.A purchased a new stake in shares of QuidelOrtho during the fourth quarter worth $108,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of QuidelOrtho in the third quarter worth $123,000. Finally, Denali Advisors LLC increased its stake in QuidelOrtho by 622.5% in the third quarter. Denali Advisors LLC now owns 2,312 shares of the company’s stock valued at $169,000 after acquiring an additional 1,992 shares during the last quarter. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Trading Down 3.1 %

Shares of QDEL stock traded down $1.27 on Thursday, reaching $39.55. 204,539 shares of the company were exchanged, compared to its average volume of 999,645. The business has a 50-day moving average price of $44.67 and a 200 day moving average price of $60.03. The company has a quick ratio of 0.88, a current ratio of 1.57 and a debt-to-equity ratio of 0.45. QuidelOrtho Co. has a 1 year low of $37.78 and a 1 year high of $95.02.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). The business had revenue of $742.60 million for the quarter, compared to analyst estimates of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The business’s revenue was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 earnings per share. On average, research analysts forecast that QuidelOrtho Co. will post 2.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on QDEL shares. UBS Group reiterated a “sell” rating and set a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Raymond James reaffirmed an “outperform” rating and issued a $76.00 price target (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Craig Hallum reaffirmed a “hold” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. downgraded shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $66.00 to $37.00 in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, QuidelOrtho has a consensus rating of “Hold” and a consensus price target of $61.60.

Insider Buying and Selling at QuidelOrtho

In other news, CFO Joseph M. Busky purchased 2,150 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $46.35 per share, with a total value of $99,652.50. Following the purchase, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at $99,652.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

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.