Y Intercept Hong Kong Ltd Buys New Position in QuidelOrtho Co. (NASDAQ:QDEL)

Y Intercept Hong Kong Ltd bought a new stake in QuidelOrtho Co. (NASDAQ:QDEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,506 shares of the company’s stock, valued at approximately $602,000.

Several other institutional investors have also recently added to or reduced their stakes in QDEL. Cerity Partners LLC acquired a new position in shares of QuidelOrtho during the 3rd quarter valued at about $605,000. Leeward Investments LLC MA increased its stake in shares of QuidelOrtho by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 229,847 shares of the company’s stock valued at $10,481,000 after acquiring an additional 33,588 shares during the last quarter. State Street Corp increased its stake in shares of QuidelOrtho by 16.9% during the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after acquiring an additional 275,522 shares during the last quarter. FMR LLC increased its stake in shares of QuidelOrtho by 28.0% during the 3rd quarter. FMR LLC now owns 1,256,356 shares of the company’s stock valued at $57,290,000 after acquiring an additional 274,633 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of QuidelOrtho during the 4th quarter valued at about $301,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

QDEL has been the subject of a number of research analyst reports. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. UBS Group upped their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Royal Bank of Canada dropped their target price 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 downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.20.

Insiders Place Their Bets

In related news, CEO Brian J. Blaser purchased 6,033 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the acquisition, the chief executive officer now directly owns 6,033 shares in the company, valued at $249,886.86. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

QuidelOrtho Stock Up 0.5 %

QDEL opened at $39.99 on Friday. The company has a market cap of $2.69 billion, a PE ratio of -1.32 and a beta of 0.08. QuidelOrtho Co. has a 1 year low of $29.74 and a 1 year high of $49.45. The firm has a 50 day moving average price of $43.18 and a 200 day moving average price of $42.36. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. Sell-side 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.