LGT Capital Partners LTD. Has $70.34 Million Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

LGT Capital Partners LTD. grew its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 69.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 954,466 shares of the company’s stock after purchasing an additional 392,790 shares during the period. QuidelOrtho comprises approximately 2.1% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 15th largest position. LGT Capital Partners LTD.’s holdings in QuidelOrtho were worth $70,344,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in QDEL. Money Concepts Capital Corp lifted its stake in shares of QuidelOrtho by 66.8% in the 4th quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of QuidelOrtho by 109.0% during the third quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after purchasing an additional 181 shares during the last quarter. Arizona State Retirement System increased its stake in shares of QuidelOrtho by 1.4% in the third quarter. Arizona State Retirement System now owns 14,229 shares of the company’s stock valued at $1,039,000 after buying an additional 200 shares during the period. Eagle Bay Advisors LLC boosted its position in QuidelOrtho by 174.2% during the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock worth $34,000 after buying an additional 223 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of QuidelOrtho by 48.6% during the first quarter. First Horizon Advisors Inc. now owns 822 shares of the company’s stock valued at $73,000 after acquiring an additional 269 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky bought 2,150 shares of QuidelOrtho stock in a transaction dated Friday, February 23rd. The stock was bought at an average cost of $46.35 per share, with a total value of $99,652.50. Following the completion of the acquisition, the chief financial officer now directly owns 2,150 shares in the company, valued at approximately $99,652.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group reaffirmed a “sell” rating and set a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. JPMorgan Chase & Co. cut shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $66.00 to $37.00 in a research report on Wednesday, February 14th. Royal Bank of Canada cut their price target on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Finally, Craig Hallum reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.60.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $47.94 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. QuidelOrtho Co. has a 1 year low of $41.75 and a 1 year high of $98.67. The company has a 50-day moving average price of $54.57 and a 200-day moving average price of $64.24.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.84). The company had revenue of $742.60 million during the quarter, compared to analysts’ expectations of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same period last year, the company earned $1.74 earnings per share. On average, sell-side analysts anticipate that QuidelOrtho Co. will post 2.57 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.