QuidelOrtho Co. (NASDAQ:QDEL) Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC increased its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 207.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 877,307 shares of the company’s stock after purchasing an additional 592,307 shares during the period. Magnetar Financial LLC’s holdings in QuidelOrtho were worth $39,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC purchased a new stake in QuidelOrtho in the third quarter valued at $605,000. State Street Corp lifted its position in QuidelOrtho by 16.9% in the third 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 lifted its position in QuidelOrtho by 28.0% in the third 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. Merit Financial Group LLC purchased a new stake in QuidelOrtho in the fourth quarter valued at $301,000. Finally, Principal Financial Group Inc. lifted its position in QuidelOrtho by 64.5% in the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock valued at $12,405,000 after acquiring an additional 106,642 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QDEL. UBS Group boosted their price target on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada dropped their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group began coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 price target on the stock. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Finally, Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, QuidelOrtho currently has an average rating of “Hold” and an average price target of $51.20.

QuidelOrtho Trading Down 0.3 %

Shares of QDEL opened at $34.78 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average is $41.20 and its two-hundred day moving average is $41.78. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $49.45. The firm has a market capitalization of $2.35 billion, a P/E ratio of -1.15 and a beta of 0.10.

QuidelOrtho (NASDAQ:QDEL) last issued its 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%. On average, research analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal 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.