Integral Health Asset Management LLC Acquires 25,000 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Integral Health Asset Management LLC raised its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,000 shares of the company’s stock after acquiring an additional 25,000 shares during the period. Integral Health Asset Management LLC’s holdings in QuidelOrtho were worth $6,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of QDEL. Quarry LP bought a new position in QuidelOrtho during the fourth quarter valued at $43,000. Blue Trust Inc. increased its position in 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 acquiring an additional 844 shares during the last quarter. Spire Wealth Management bought a new position in QuidelOrtho during the fourth quarter valued at $74,000. KBC Group NV increased its position in QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after acquiring an additional 1,895 shares during the last quarter. Finally, Sterling Capital Management LLC increased its position in QuidelOrtho by 75.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,726 shares of the company’s stock valued at $166,000 after acquiring an additional 1,601 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on QDEL shares. StockNews.com cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Royal Bank of Canada cut their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Thursday. Finally, UBS Group lowered their target price on shares of QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, QuidelOrtho currently has an average rating of “Hold” and a consensus price target of $44.33.

QuidelOrtho Stock Down 0.4%

Shares of QDEL opened at $36.30 on Monday. The firm has a market capitalization of $2.45 billion, a P/E ratio of -1.20 and a beta of 0.13. QuidelOrtho Co. has a 12-month low of $23.77 and a 12-month high of $49.45. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $31.41 and a 200-day moving average price of $38.14.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.13. The firm had revenue of $692.80 million during the quarter, compared to analyst estimates of $694.97 million. QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. Equities research analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

QuidelOrtho Company 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.