QuidelOrtho Co. (NASDAQ:QDEL) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in QuidelOrtho Co. (NASDAQ:QDEL) by 72.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,115,551 shares of the company’s stock after buying an additional 469,132 shares during the quarter. American Century Companies Inc. owned about 1.66% of QuidelOrtho worth $49,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in QDEL. Corient Private Wealth LLC lifted its stake in shares of QuidelOrtho by 10.6% in the 4th quarter. Corient Private Wealth LLC now owns 6,874 shares of the company’s stock valued at $306,000 after purchasing an additional 661 shares in the last quarter. CIBC Asset Management Inc raised its holdings in QuidelOrtho by 14.2% in the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company’s stock valued at $292,000 after buying an additional 816 shares during the period. Blue Trust Inc. lifted its position in QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after buying an additional 844 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in QuidelOrtho by 14.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 9,985 shares of the company’s stock worth $445,000 after buying an additional 1,289 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of QuidelOrtho in the fourth quarter worth $74,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $35.02 on Thursday. 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 business has a 50 day moving average price of $40.40 and a two-hundred day moving average price of $41.55. The firm has a market cap of $2.36 billion, a PE ratio of -1.16 and a beta of 0.10. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two 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 analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. Sell-side analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

QDEL has been the topic of several recent research reports. StockNews.com lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. UBS Group upped their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. 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. Jefferies Financial Group initiated coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price target for the company. Finally, 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.20.

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.