Essex Investment Management Co. LLC Makes New Investment in QuidelOrtho Co. (NASDAQ:QDEL)

Essex Investment Management Co. LLC purchased a new stake in QuidelOrtho Co. (NASDAQ:QDEL) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 63,797 shares of the company’s stock, valued at approximately $2,842,000.

Several other large investors have also modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in shares of QuidelOrtho during the 3rd quarter worth approximately $25,000. Blue Trust Inc. lifted its stake in QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after purchasing an additional 844 shares in the last quarter. Spire Wealth Management purchased a new position in shares of QuidelOrtho during the fourth quarter worth $74,000. KBC Group NV grew its stake in shares of QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after buying an additional 1,895 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of QuidelOrtho in the 3rd quarter valued at $238,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Analyst Upgrades and Downgrades

QDEL has been the subject of a number of research analyst reports. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. StockNews.com lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Jefferies Financial Group started coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They set a “hold” rating and a $43.00 target price on the stock. Finally, Royal Bank of Canada dropped their price target on shares of 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.20.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, CEO Brian J. Blaser acquired 6,033 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the acquisition, the chief executive officer now owns 6,033 shares in the company, valued at $249,886.86. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

QuidelOrtho Stock Up 2.1 %

Shares of NASDAQ:QDEL opened at $40.80 on Monday. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $49.45. The firm’s 50 day moving average price is $42.69 and its 200 day moving average price is $42.19. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -1.35 and a beta of 0.10.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. As a group, equities research analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal 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.