Bridgewater Associates LP Decreases Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Bridgewater Associates LP lowered its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 71.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,257 shares of the company's stock after selling 15,691 shares during the quarter. Bridgewater Associates LP's holdings in QuidelOrtho were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of QuidelOrtho by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company's stock valued at $41,996,000 after acquiring an additional 16,059 shares during the last quarter. Principal Financial Group Inc. lifted its position in QuidelOrtho by 64.5% in the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock valued at $12,405,000 after purchasing an additional 106,642 shares during the last quarter. Moody National Bank Trust Division grew its holdings in shares of QuidelOrtho by 126.5% in the fourth quarter. Moody National Bank Trust Division now owns 37,868 shares of the company's stock worth $1,687,000 after purchasing an additional 21,147 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of QuidelOrtho in the fourth quarter worth $433,000. Finally, Oak Thistle LLC bought a new position in shares of QuidelOrtho during the fourth quarter valued at about $301,000. 99.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on QDEL. UBS Group upped their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Finally, Royal Bank of Canada dropped their price objective on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $46.83.

QuidelOrtho Stock Performance

QuidelOrtho stock traded up $0.31 during midday trading on Friday, hitting $28.09. The stock had a trading volume of 1,190,998 shares, compared to its average volume of 998,114. 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 52-week low of $23.77 and a 52-week high of $49.45. The company has a market capitalization of $1.89 billion, a PE ratio of -0.93 and a beta of 0.43. The firm's fifty day moving average is $33.62 and its two-hundred day moving average is $38.92.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced 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 forecast that QuidelOrtho Co. will post 2.3 EPS 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.