Segall Bryant & Hamill LLC Takes Position in QuidelOrtho Co. (NASDAQ:QDEL)

Segall Bryant & Hamill LLC purchased a new position in QuidelOrtho Co. (NASDAQ:QDEL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 429,057 shares of the company’s stock, valued at approximately $19,565,000. Segall Bryant & Hamill LLC owned about 0.64% of QuidelOrtho as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Phocas Financial Corp. bought a new stake in QuidelOrtho during the 3rd quarter valued at about $3,592,000. Quest Partners LLC grew its holdings in shares of QuidelOrtho by 89.6% during the third quarter. Quest Partners LLC now owns 6,522 shares of the company’s stock valued at $297,000 after buying an additional 3,083 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of QuidelOrtho by 279.2% during the third quarter. Thrivent Financial for Lutherans now owns 45,407 shares of the company’s stock valued at $2,071,000 after buying an additional 33,432 shares during the last quarter. Royce & Associates LP purchased a new position in QuidelOrtho in the 3rd quarter worth approximately $3,232,000. Finally, CIBC Asset Management Inc bought a new position in QuidelOrtho in the 3rd quarter valued at approximately $262,000. Institutional investors own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on QDEL shares. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a research note on Friday, August 16th. Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $57.00 in a research note on Thursday, September 5th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a report on Wednesday. Finally, UBS Group began coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $58.83.

QuidelOrtho Trading Down 2.9 %

QuidelOrtho stock opened at $37.48 on Thursday. QuidelOrtho Co. has a 52-week low of $29.74 and a 52-week high of $75.86. The company has a market cap of $2.52 billion, a P/E ratio of -1.34 and a beta of 0.12. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $41.77 and a two-hundred day simple moving average of $40.39.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The company had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same period in the previous year, the business posted $0.90 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts predict that QuidelOrtho Co. will post 1.72 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.