QuidelOrtho Co. (NASDAQ:QDEL) Position Boosted by Amalgamated Bank

Amalgamated Bank lifted its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 11.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,911 shares of the company’s stock after acquiring an additional 2,014 shares during the quarter. Amalgamated Bank’s holdings in QuidelOrtho were worth $887,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in QuidelOrtho during the third quarter worth approximately $25,000. Blue Trust Inc. lifted its position in shares of QuidelOrtho by 188.0% during the 4th 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 stake in shares of QuidelOrtho during the 4th quarter worth $74,000. KBC Group NV boosted its stake in shares of QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock worth $153,000 after acquiring an additional 1,895 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of QuidelOrtho by 4,460.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock worth $208,000 after acquiring an additional 4,460 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QDEL has been the subject of several analyst reports. UBS Group upped their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. 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. StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Jefferies Financial Group began coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price target on the stock. Finally, Royal Bank of Canada decreased their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.20.

Insider Transactions at QuidelOrtho

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

QuidelOrtho Trading Down 2.4 %

NASDAQ:QDEL opened at $39.05 on Tuesday. The stock’s 50-day moving average is $43.07 and its two-hundred day moving average is $42.31. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The stock has a market cap of $2.63 billion, a PE ratio of -1.29 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.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data 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 negative net margin of 72.84% and a positive return on equity of 3.78%. As a group, equities research analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share 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.