Quantbot Technologies LP Makes New $612,000 Investment in QuidelOrtho Co. (NASDAQ:QDEL)

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

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after buying an additional 844 shares during the last quarter. Spire Wealth Management purchased a new position in QuidelOrtho in the fourth quarter worth $74,000. KBC Group NV increased its stake in QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after acquiring an additional 1,895 shares during the last quarter. Captrust Financial Advisors purchased a new stake in QuidelOrtho during the third quarter valued at about $238,000. Finally, CIBC Asset Management Inc lifted its stake in QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock worth $292,000 after purchasing an additional 816 shares during the last quarter. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Trading Up 0.2 %

NASDAQ:QDEL traded up $0.08 during midday trading on Monday, reaching $34.97. 636,073 shares of the stock traded hands, compared to its average volume of 953,382. The stock has a market capitalization of $2.36 billion, a P/E ratio of -1.15 and a beta of 0.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The company has a fifty day moving average of $40.01 and a 200 day moving average of $41.33. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $49.45.

Remove Ads

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. On average, research analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup upgraded QuidelOrtho from a "neutral" rating to a "buy" rating and increased their price objective for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. Royal Bank of Canada reduced their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. UBS Group boosted their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. StockNews.com lowered shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Finally, Jefferies Financial Group assumed coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.