Rice Hall James & Associates LLC boosted its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL – Free Report) by 23.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,026,420 shares of the company’s stock after purchasing an additional 192,629 shares during the quarter. Rice Hall James & Associates LLC’s holdings in QuidelOrtho were worth $16,864,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of QuidelOrtho by 7.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,832,098 shares of the company’s stock worth $337,925,000 after buying an additional 819,908 shares during the period. Invesco Ltd. increased its position in shares of QuidelOrtho by 19.4% in the fourth quarter. Invesco Ltd. now owns 3,470,656 shares of the company’s stock worth $99,122,000 after acquiring an additional 563,893 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of QuidelOrtho by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock valued at $50,085,000 after acquiring an additional 212,481 shares during the period. State Street Corp raised its holdings in shares of QuidelOrtho by 1.3% during the fourth quarter. State Street Corp now owns 2,704,355 shares of the company’s stock valued at $77,236,000 after acquiring an additional 35,616 shares during the period. Finally, Newtyn Management LLC lifted its position in shares of QuidelOrtho by 58.3% in the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock valued at $79,515,000 after acquiring an additional 994,332 shares in the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.
QuidelOrtho Price Performance
NASDAQ QDEL opened at $16.05 on Friday. The company has a 50 day simple moving average of $14.87 and a 200-day simple moving average of $18.72. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.43 and a quick ratio of 0.80. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -0.90 and a beta of 0.69. QuidelOrtho Corporation has a 52-week low of $9.92 and a 52-week high of $35.58.
Wall Street Analyst Weigh In
QDEL has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Monday, June 29th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. JPMorgan Chase & Co. increased their target price on QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded QuidelOrtho from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, QuidelOrtho has an average rating of “Reduce” and an average target price of $13.62.
Read Our Latest Stock Analysis on QDEL
About QuidelOrtho
QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.
The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.
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