13,736 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in QuidelOrtho Co. (NASDAQ:QDEL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,736 shares of the company’s stock, valued at approximately $612,000.

A number of other institutional investors have also added to or reduced their stakes in QDEL. State Street Corp boosted its position in shares of 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 acquiring an additional 275,522 shares during the last quarter. FMR LLC lifted its stake in QuidelOrtho by 28.0% in the 3rd 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. Geode Capital Management LLC boosted its holdings in shares of QuidelOrtho by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock valued at $41,996,000 after purchasing an additional 16,059 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of QuidelOrtho by 20.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 881,535 shares of the company’s stock valued at $39,272,000 after purchasing an additional 148,735 shares in the last quarter. Finally, Magnetar Financial LLC increased its holdings in shares of QuidelOrtho by 207.8% in the fourth quarter. Magnetar Financial LLC now owns 877,307 shares of the company’s stock worth $39,084,000 after purchasing an additional 592,307 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QDEL has been the subject of a number of research reports. Jefferies Financial Group began coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 price target for the company. UBS Group increased their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. Finally, StockNews.com cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.20.

QuidelOrtho Stock Up 2.4 %

Shares of QDEL opened at $35.87 on Friday. 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 fifty day moving average of $40.28 and a 200 day moving average of $41.51. The company has a market cap of $2.42 billion, a PE ratio of -1.18 and a beta of 0.10. QuidelOrtho Co. has a 52-week low of $29.74 and a 52-week high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (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%. On average, sell-side analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current year.

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.