Ieq Capital LLC Buys 76,050 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Ieq Capital LLC boosted its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 1,046.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,317 shares of the company’s stock after purchasing an additional 76,050 shares during the quarter. Ieq Capital LLC’s holdings in QuidelOrtho were worth $3,712,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of QuidelOrtho in the 3rd quarter valued at about $25,000. Blue Trust Inc. raised its holdings in shares of QuidelOrtho by 188.0% in 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 in the last quarter. Spire Wealth Management purchased a new stake in shares of QuidelOrtho in the 4th quarter valued at about $74,000. KBC Group NV raised its holdings in shares of QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after acquiring an additional 1,895 shares in the last quarter. Finally, International Assets Investment Management LLC raised 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 valued at $208,000 after acquiring an additional 4,460 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on QuidelOrtho in a report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective on the stock. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. UBS Group raised their price objective on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada decreased their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, QuidelOrtho has a consensus rating of “Hold” and an average price target of $51.20.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, CEO Brian J. Blaser acquired 6,033 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were purchased 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 owns 6,033 shares in the company, valued at $249,886.86. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock opened at $40.46 on Friday. 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 business’s 50 day simple moving average is $43.45 and its two-hundred day simple moving average is $42.38. The stock has a market capitalization of $2.72 billion, a P/E ratio of -1.34 and a beta of 0.08. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 EPS 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%. Analysts forecast that QuidelOrtho Co. will post 2.3 EPS 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.