QuidelOrtho Co. (NASDAQ:QDEL) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 6.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 40,944 shares of the company’s stock after purchasing an additional 2,588 shares during the period. M&T Bank Corp’s holdings in QuidelOrtho were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions 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. increased its position 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 buying an additional 844 shares during the period. Spire Wealth Management acquired a new position in QuidelOrtho during the fourth quarter worth approximately $74,000. KBC Group NV lifted its stake in 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 during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of QuidelOrtho in the third quarter valued at approximately $238,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Up 2.1 %

QDEL stock opened at $40.80 on Monday. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $49.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The company has a fifty day moving average of $42.69 and a 200-day moving average of $42.19. The stock has a market capitalization of $2.75 billion, a PE 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 EPS 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, analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on QDEL shares. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. Royal Bank of Canada dropped their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. UBS Group increased their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Finally, Jefferies Financial Group started coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.20.

Insider Activity

In other QuidelOrtho news, CEO Brian J. Blaser acquired 6,033 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the completion of the transaction, the chief executive officer now owns 6,033 shares of the company’s stock, valued at $249,886.86. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

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.