HBK Investments L P Grows Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

HBK Investments L P lifted its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 91.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 629,771 shares of the company's stock after buying an additional 300,126 shares during the period. QuidelOrtho makes up about 0.5% of HBK Investments L P's portfolio, making the stock its 19th largest position. HBK Investments L P owned approximately 0.94% of QuidelOrtho worth $28,056,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of QDEL. T. Rowe Price Investment Management Inc. increased its holdings in shares of QuidelOrtho by 19.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock valued at $500,690,000 after acquiring an additional 1,840,667 shares in the last quarter. Vanguard Group Inc. grew its position in QuidelOrtho by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after purchasing an additional 764,900 shares during the last quarter. Invesco Ltd. raised its holdings in shares of QuidelOrtho by 71.7% in the fourth quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock worth $153,584,000 after buying an additional 1,439,293 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of QuidelOrtho by 14.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company's stock worth $62,666,000 after buying an additional 173,174 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of QuidelOrtho by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,217,126 shares of the company's stock valued at $54,221,000 after buying an additional 107,775 shares during the last quarter. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Trading Up 8.0 %

Shares of NASDAQ:QDEL opened at $27.78 on Friday. The company has a market capitalization of $1.87 billion, a PE ratio of -0.92 and a beta of 0.43. QuidelOrtho Co. has a 12-month low of $23.77 and a 12-month high of $49.45. The business has a 50 day moving average of $33.89 and a two-hundred day moving average of $39.02. 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 (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (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, analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current year.

Analyst Ratings Changes

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

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.

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