QuidelOrtho Co. (NASDAQ:QDEL) Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC increased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 207.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 877,307 shares of the company’s stock after acquiring an additional 592,307 shares during the period. Magnetar Financial LLC owned about 1.30% of QuidelOrtho worth $39,084,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC purchased a new position in QuidelOrtho during the third quarter worth approximately $605,000. State Street Corp boosted its position in QuidelOrtho by 16.9% during the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after purchasing an additional 275,522 shares in the last quarter. FMR LLC boosted its position in QuidelOrtho by 28.0% during the third quarter. FMR LLC now owns 1,256,356 shares of the company’s stock worth $57,290,000 after purchasing an additional 274,633 shares in the last quarter. Merit Financial Group LLC purchased a new position in QuidelOrtho during the fourth quarter worth approximately $301,000. Finally, Principal Financial Group Inc. boosted its position in QuidelOrtho by 64.5% during the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock worth $12,405,000 after purchasing an additional 106,642 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Stock Performance

NASDAQ:QDEL opened at $34.78 on Thursday. The company has a fifty day simple moving average of $41.20 and a two-hundred day simple moving average of $41.78. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -1.15 and a beta of 0.10. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $49.45.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Jefferies Financial Group initiated coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 target price for the company. Royal Bank of Canada cut their target price on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.20.

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.