QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 443,743 shares of the company's stock after selling 15,327 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of QuidelOrtho worth $19,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Rubric Capital Management LP lifted its position in QuidelOrtho by 15.2% during the third quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company's stock valued at $191,520,000 after purchasing an additional 554,410 shares during the last quarter. State Street Corp increased its stake in QuidelOrtho by 16.9% in the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company's stock worth $87,000,000 after buying an additional 275,522 shares during the period. FMR LLC increased 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 buying an additional 274,633 shares during the period. Geode Capital Management LLC increased its position in 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 period. Finally, Point72 Asset Management L.P. purchased a new position in QuidelOrtho during the 3rd quarter valued at about $34,320,000. Institutional investors own 99.00% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada cut their target price 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. Jefferies Financial Group started coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They set a "hold" rating and a $43.00 target price on the stock. Citigroup upgraded shares of QuidelOrtho from a "neutral" rating to a "buy" rating and raised their price target for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. William Blair restated a "market perform" rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Finally, StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $51.20.

QuidelOrtho Stock Down 3.4 %

Shares of NASDAQ:QDEL traded down $1.27 during trading on Thursday, reaching $35.60. The stock had a trading volume of 605,099 shares, compared to its average volume of 930,019. The firm's 50-day simple moving average is $42.10 and its 200 day simple moving average is $42.02. The company has a market capitalization of $2.40 billion, a P/E ratio of -1.18 and a beta of 0.10. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. As a group, research analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current fiscal 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.