Integral Health Asset Management LLC Boosts Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Integral Health Asset Management LLC raised its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 20.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Integral Health Asset Management LLC owned 0.22% of QuidelOrtho worth $6,682,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in QDEL. Principal Financial Group Inc. lifted its holdings in QuidelOrtho by 64.5% during the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock valued at $12,405,000 after purchasing an additional 106,642 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in QuidelOrtho by 126.5% during the fourth quarter. Moody National Bank Trust Division now owns 37,868 shares of the company’s stock valued at $1,687,000 after purchasing an additional 21,147 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in QuidelOrtho during the fourth quarter valued at approximately $433,000. Oak Thistle LLC purchased a new position in QuidelOrtho during the fourth quarter valued at approximately $301,000. Finally, Merit Financial Group LLC purchased a new position in QuidelOrtho during the fourth quarter valued at approximately $301,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

QuidelOrtho Price Performance

QDEL stock opened at $36.30 on Monday. QuidelOrtho Co. has a one year low of $23.77 and a one year high of $49.45. The company’s fifty day moving average price is $31.41 and its 200-day moving average price is $38.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The company has a market capitalization of $2.45 billion, a PE ratio of -1.20 and a beta of 0.13.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.13. QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. The company had revenue of $692.80 million for the quarter, compared to analysts’ expectations of $694.97 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. QuidelOrtho’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

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.