Bfsg LLC Buys Shares of 1,975 QuidelOrtho Co. (NASDAQ:QDEL)

Bfsg LLC bought a new stake in QuidelOrtho Co. (NASDAQ:QDEL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,975 shares of the company’s stock, valued at approximately $146,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC raised its stake in shares of QuidelOrtho by 109.0% during the third quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock valued at $26,000 after purchasing an additional 181 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of QuidelOrtho during the third quarter valued at about $106,000. Cetera Trust Company N.A bought a new stake in shares of QuidelOrtho during the fourth quarter valued at about $108,000. C M Bidwell & Associates Ltd. bought a new stake in shares of QuidelOrtho during the third quarter valued at about $123,000. Finally, Denali Advisors LLC raised its stake in shares of QuidelOrtho by 622.5% during the third quarter. Denali Advisors LLC now owns 2,312 shares of the company’s stock valued at $169,000 after purchasing an additional 1,992 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Joseph M. Busky purchased 2,150 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were acquired at an average price of $46.35 per share, with a total value of $99,652.50. Following the completion of the purchase, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at approximately $99,652.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

QuidelOrtho Stock Down 3.1 %

Shares of QDEL traded down $1.27 during trading hours on Thursday, hitting $39.55. 204,539 shares of the stock traded hands, compared to its average volume of 999,645. 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 $37.78 and a 1-year high of $95.02. The business has a fifty day moving average of $44.67 and a 200-day moving average of $60.03.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.84). QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The firm had revenue of $742.60 million for the quarter, compared to analyst estimates of $796.91 million. During the same period last year, the company earned $1.74 EPS. The company’s revenue was down 14.3% compared to the same quarter last year. Equities research analysts expect that QuidelOrtho Co. will post 2.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on QDEL shares. Royal Bank of Canada cut their price objective on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. UBS Group restated a “sell” rating and set a $42.00 price objective (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, Raymond James reaffirmed an “outperform” rating and set a $76.00 target price (down previously from $100.00) 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 assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.60.

QuidelOrtho 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.