Charles Schwab Investment Management Inc. Acquires 148,735 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Charles Schwab Investment Management Inc. increased its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 20.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 881,535 shares of the company’s stock after buying an additional 148,735 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.31% of QuidelOrtho worth $39,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of QDEL. Principal Financial Group Inc. raised its holdings in shares of QuidelOrtho by 64.5% during the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock valued at $12,405,000 after purchasing an additional 106,642 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in QuidelOrtho by 8.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,455 shares of the company’s stock worth $2,027,000 after purchasing an additional 3,351 shares during the period. Victory Capital Management Inc. raised its stake in QuidelOrtho by 7.7% during the 3rd quarter. Victory Capital Management Inc. now owns 23,404 shares of the company’s stock valued at $1,067,000 after buying an additional 1,667 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of QuidelOrtho during the 3rd quarter valued at $262,000. Finally, Royce & Associates LP purchased a new position in shares of QuidelOrtho in the 3rd quarter worth $3,232,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on QDEL shares. Jefferies Financial Group started coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price on the stock. StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. UBS Group upped their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reduced their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.20.

QuidelOrtho Stock Up 1.5 %

Shares of QDEL opened at $36.12 on Friday. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $49.45. 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 company has a market capitalization of $2.44 billion, a PE ratio of -1.19 and a beta of 0.10. The business’s 50 day moving average is $41.89 and its 200 day moving average is $41.95.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) 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%. Research analysts expect 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.