Truist Financial Corp grew its position in shares of QuidelOrtho Co. (NASDAQ:QDEL – Get Rating) by 28.7% in the first quarter, HoldingsChannel reports. The fund owned 10,074 shares of the company’s stock after acquiring an additional 2,246 shares during the period. Truist Financial Corp’s holdings in QuidelOrtho were worth $1,133,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of QDEL. Western Pacific Wealth Management LP acquired a new position in QuidelOrtho during the 4th quarter worth approximately $26,000. New Century Advisors LLC bought a new stake in shares of QuidelOrtho during the 4th quarter worth approximately $31,000. Exane Derivatives raised its stake in shares of QuidelOrtho by 4,883.3% during the 1st quarter. Exane Derivatives now owns 299 shares of the company’s stock worth $34,000 after purchasing an additional 293 shares in the last quarter. Emerald Advisers LLC bought a new stake in shares of QuidelOrtho during the 4th quarter worth approximately $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of QuidelOrtho during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 92.89% of the company’s stock.
QuidelOrtho Trading Down 1.4 %
QDEL opened at $103.26 on Friday. QuidelOrtho Co. has a 1-year low of $88.05 and a 1-year high of $180.06. The stock’s fifty day simple moving average is $99.72 and its 200 day simple moving average is $103.82. The stock has a market cap of $4.32 billion, a PE ratio of 4.36 and a beta of 0.04.
QuidelOrtho (NASDAQ:QDEL – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $11.53 earnings per share for the quarter, beating analysts’ consensus estimates of $9.17 by $2.36. QuidelOrtho had a return on equity of 56.46% and a net margin of 43.26%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $865.05 million. During the same quarter in the prior year, the business earned $4.27 EPS. The firm’s revenue for the quarter was up 167.0% on a year-over-year basis. Equities analysts forecast that QuidelOrtho Co. will post 14.92 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on QDEL shares. UBS Group started coverage on QuidelOrtho in a research note on Wednesday. They set a “sell” rating and a $86.00 price objective on the stock. JPMorgan Chase & Co. started coverage on QuidelOrtho in a research note on Friday, June 17th. They set a “neutral” rating on the stock. Finally, StockNews.com upgraded QuidelOrtho from a “hold” rating to a “buy” rating in a research note on Friday, May 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QuidelOrtho presently has a consensus rating of “Moderate Buy” and an average target price of $98.67.
QuidelOrtho Company Profile
QuidelOrtho Corporation provides various in vitro diagnostics products worldwide. The company’s product portfolio covers a range of point-of-care tests for infectious diseases, critical cardiac health and autoimmune biomarkers, and clinical and at-home products to detect COVID-19. It provides visually-read lateral flow products in infectious disease and reproductive health; direct fluorescent antibodies in infectious disease and virology; micro-titer production with a focus on bone and complement pathway markets; fluorescent immunoassay products; molecular diagnostic products comprising Savanna, an integrated molecular diagnostic system; immunodiagnostics, clinical chemistry, and integrated testing systems to serve diagnostic labs of all sizes; immunodiagnostic donor screening systems and services that drive blood safety; pre-transfusion testing that automates blood bank workload with software to standardize operations, simplify tasks, and improve productivity; and Ortho Care services and informatics products.
Further Reading
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Source: defenseworld.net
