Ieq Capital LLC Buys 76,050 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Ieq Capital LLC increased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 1,046.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,317 shares of the company’s stock after buying an additional 76,050 shares during the quarter. Ieq Capital LLC owned 0.12% of QuidelOrtho worth $3,712,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. CIBC Asset Management Inc grew its holdings in QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company’s stock worth $292,000 after buying an additional 816 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in QuidelOrtho during the fourth quarter worth $414,000. Principal Financial Group Inc. grew its holdings in QuidelOrtho by 17.3% during the fourth quarter. Principal Financial Group Inc. now owns 319,208 shares of the company’s stock worth $14,221,000 after buying an additional 47,171 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in QuidelOrtho by 22.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 54,411 shares of the company’s stock worth $2,424,000 after buying an additional 9,956 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in QuidelOrtho by 10.3% during the fourth quarter. Rhumbline Advisers now owns 128,255 shares of the company’s stock worth $5,714,000 after buying an additional 12,026 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

Insider Transactions at QuidelOrtho

In other news, CEO Brian J. Blaser purchased 6,033 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the purchase, the chief executive officer now owns 6,033 shares of the company’s stock, valued at $249,886.86. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

QuidelOrtho Stock Down 1.4 %

QDEL stock opened at $40.46 on Friday. 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 $2.72 billion, a price-to-earnings ratio of -1.34 and a beta of 0.08. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $49.45. The stock has a fifty day moving average of $43.45 and a 200-day moving average of $42.38.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. As a group, equities research analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on QDEL shares. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Jefferies Financial Group started coverage on QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective on the stock. Royal Bank of Canada cut their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group boosted their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.