Goodman Financial Corp Has $13.67 Million Position in QuidelOrtho Co. (NASDAQ:QDEL)

Goodman Financial Corp raised its position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 13.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306,784 shares of the company's stock after purchasing an additional 35,972 shares during the period. QuidelOrtho accounts for approximately 2.9% of Goodman Financial Corp's holdings, making the stock its 18th biggest position. Goodman Financial Corp owned approximately 0.46% of QuidelOrtho worth $13,667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of QDEL. Point72 Asset Management L.P. acquired a new position in shares of QuidelOrtho during the third quarter worth approximately $34,320,000. Magnetar Financial LLC boosted its position in QuidelOrtho by 207.8% during the 4th quarter. Magnetar Financial LLC now owns 877,307 shares of the company's stock worth $39,084,000 after acquiring an additional 592,307 shares during the period. Rubric Capital Management LP boosted its position in QuidelOrtho by 15.2% during the 3rd quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company's stock worth $191,520,000 after acquiring an additional 554,410 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of QuidelOrtho in the third quarter worth $19,565,000. Finally, Beaconlight Capital LLC acquired a new position in shares of QuidelOrtho during the third quarter valued at $18,152,000. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL traded down $1.16 during midday trading on Tuesday, reaching $35.35. The company's stock had a trading volume of 808,434 shares, compared to its average volume of 933,361. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $49.45. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -1.17 and a beta of 0.10. The company has a 50 day moving average price of $40.62 and a 200 day moving average price of $41.65. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71.

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QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly 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 negative net margin of 72.84% and a positive return on equity of 3.78%. On average, equities research analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

QDEL has been the subject of a number of recent analyst reports. Citigroup upgraded shares of QuidelOrtho from a "neutral" rating to a "buy" rating and increased their target price 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 for the company in a research note on Thursday, February 13th. Jefferies Financial Group started coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They set a "hold" rating and a $43.00 price objective on the stock. UBS Group boosted their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Four research 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, QuidelOrtho currently has an average rating of "Hold" and an average price target of $51.20.

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.