Phocas Financial Corp. Acquires Shares of 78,771 QuidelOrtho Co. (NASDAQ:QDEL)

Phocas Financial Corp. purchased a new stake in QuidelOrtho Co. (NASDAQ:QDEL) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 78,771 shares of the company’s stock, valued at approximately $3,592,000. Phocas Financial Corp. owned approximately 0.12% of QuidelOrtho as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in QuidelOrtho in the 3rd quarter worth approximately $25,000. Fifth Third Bancorp boosted its holdings in QuidelOrtho by 907.3% in the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock valued at $27,000 after acquiring an additional 744 shares during the last quarter. GAMMA Investing LLC increased its position in QuidelOrtho by 27.0% in the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after purchasing an additional 378 shares during the period. EMC Capital Management bought a new stake in QuidelOrtho during the 1st quarter worth about $117,000. Finally, Innealta Capital LLC acquired a new position in QuidelOrtho during the 2nd quarter valued at about $102,000. 99.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QDEL. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. UBS Group started coverage on shares of QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $58.83.

QuidelOrtho Stock Up 3.3 %

QDEL stock opened at $37.39 on Tuesday. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $75.86. The business’s 50-day moving average price is $42.03 and its two-hundred day moving average price is $40.46. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. The business had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. QuidelOrtho’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 EPS. On average, research analysts expect that QuidelOrtho Co. will post 1.72 earnings per share 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.