AXQ Capital LP Buys Shares of 9,370 QuidelOrtho Co. (NASDAQ:QDEL)

AXQ Capital LP bought a new position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,370 shares of the company's stock, valued at approximately $417,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of QuidelOrtho by 7.7% in the 3rd quarter. Victory Capital Management Inc. now owns 23,404 shares of the company's stock worth $1,067,000 after purchasing an additional 1,667 shares during the last quarter. CIBC Asset Management Inc bought a new stake in QuidelOrtho in the third quarter valued at $262,000. Thrivent Financial for Lutherans boosted its holdings in shares of QuidelOrtho by 279.2% during the third quarter. Thrivent Financial for Lutherans now owns 45,407 shares of the company's stock valued at $2,071,000 after acquiring an additional 33,432 shares during the period. Quest Partners LLC grew its position in shares of QuidelOrtho by 89.6% during the third quarter. Quest Partners LLC now owns 6,522 shares of the company's stock worth $297,000 after acquiring an additional 3,083 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of QuidelOrtho in the 3rd quarter worth about $605,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock traded up $0.85 during trading on Thursday, hitting $35.87. The stock had a trading volume of 684,533 shares, compared to its average volume of 932,089. The business has a fifty day moving average of $40.40 and a two-hundred day moving average of $41.55. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $49.45. The firm has a market cap of $2.42 billion, a P/E ratio of -1.18 and a beta of 0.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69.

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QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates 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, sell-side analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup upgraded shares of QuidelOrtho from a "neutral" rating to a "buy" rating and upped their target price for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. UBS Group raised 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. Jefferies Financial Group initiated coverage on QuidelOrtho in a research report on Tuesday, December 10th. They set a "hold" rating and a $43.00 price target for the company. StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Finally, Royal Bank of Canada cut their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, QuidelOrtho has an average rating of "Hold" and an average price target of $51.20.

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.