JPMorgan Chase & Co. trimmed its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL – Free Report) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,233,480 shares of the company’s stock after selling 54,506 shares during the quarter. JPMorgan Chase & Co. owned about 1.83% of QuidelOrtho worth $56,247,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of QuidelOrtho by 64.5% in the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of QuidelOrtho by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock worth $41,996,000 after buying an additional 16,059 shares during the period. M&T Bank Corp grew its stake in QuidelOrtho by 33.4% in the 3rd quarter. M&T Bank Corp now owns 38,356 shares of the company’s stock valued at $1,749,000 after buying an additional 9,607 shares during the last quarter. State Street Corp raised its holdings in QuidelOrtho by 16.9% in the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after acquiring an additional 275,522 shares during the period. Finally, Systematic Financial Management LP lifted its position in QuidelOrtho by 6.9% during the 3rd quarter. Systematic Financial Management LP now owns 151,034 shares of the company’s stock worth $6,887,000 after acquiring an additional 9,793 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors.
QuidelOrtho Stock Up 3.6 %
NASDAQ QDEL opened at $46.66 on Friday. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $75.09. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -1.67 and a beta of 0.08. The stock’s 50 day moving average is $41.11 and its two-hundred day moving average is $40.36. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68.
Analyst Ratings Changes
QDEL has been the subject of several research analyst reports. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. Jefferies Financial Group assumed coverage on QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective for the company. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Finally, UBS Group assumed coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, QuidelOrtho presently has a consensus rating of “Hold” and a consensus target price of $53.43.
Get Our Latest Research Report on QuidelOrtho
Insiders Place Their Bets
In other QuidelOrtho news, CEO Brian J. Blaser purchased 6,033 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $41.42 per share, for a total transaction of $249,886.86. Following the transaction, the chief executive officer now directly owns 6,033 shares in the company, valued at approximately $249,886.86. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of QuidelOrtho stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
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.
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