Jump Financial LLC Purchases New Shares in QuidelOrtho Co. (NASDAQ:QDEL)

Jump Financial LLC acquired a new position in QuidelOrtho Co. (NASDAQ:QDEL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 69,313 shares of the company’s stock, valued at approximately $3,088,000. Jump Financial LLC owned 0.10% of QuidelOrtho as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of QDEL. Invesco Ltd. raised its holdings in QuidelOrtho by 71.7% in the 4th quarter. Invesco Ltd. now owns 3,447,446 shares of the company’s stock worth $153,584,000 after purchasing an additional 1,439,293 shares during the period. Norges Bank purchased a new stake in shares of QuidelOrtho in the fourth quarter valued at approximately $34,171,000. Vanguard Group Inc. raised its stake in shares of QuidelOrtho by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company’s stock worth $303,716,000 after buying an additional 764,900 shares during the period. Segall Bryant & Hamill LLC lifted its position in shares of QuidelOrtho by 143.9% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,046,649 shares of the company’s stock valued at $46,628,000 after buying an additional 617,592 shares in the last quarter. Finally, Magnetar Financial LLC grew its stake in QuidelOrtho by 207.8% in the 4th quarter. Magnetar Financial LLC now owns 877,307 shares of the company’s stock valued at $39,084,000 after acquiring an additional 592,307 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Stock Performance

QDEL opened at $25.17 on Friday. The firm has a market capitalization of $1.70 billion, a PE ratio of -0.83 and a beta of 0.43. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a twelve month low of $24.44 and a twelve month high of $49.45. The firm’s 50-day moving average price is $35.42 and its 200 day moving average price is $39.65.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (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%. As a group, sell-side analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group upped their price objective 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 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. Finally, StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, QuidelOrtho currently has an average 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.