Marshall Wace LLP Buys 229,707 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Marshall Wace LLP grew its position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 2,170.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 240,292 shares of the company's stock after buying an additional 229,707 shares during the quarter. Marshall Wace LLP owned 0.36% of QuidelOrtho worth $10,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after purchasing an additional 844 shares during the period. Spire Wealth Management purchased a new stake in QuidelOrtho in the fourth quarter worth $74,000. KBC Group NV raised its stake in shares of QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after buying an additional 1,895 shares during the period. Sterling Capital Management LLC lifted its position in shares of QuidelOrtho by 75.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock valued at $166,000 after buying an additional 1,601 shares during the last quarter. Finally, LPL Financial LLC bought a new position in shares of QuidelOrtho during the 4th quarter worth $221,000. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Trading Up 1.1 %

QDEL stock traded up $0.31 during midday trading on Friday, hitting $28.09. The company had a trading volume of 1,190,998 shares, compared to its average volume of 997,777. 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 stock has a market cap of $1.89 billion, a price-to-earnings ratio of -0.93 and a beta of 0.43. The stock's 50 day moving average price is $33.89 and its 200 day moving average price is $39.02.

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, equities research analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. UBS Group lifted their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Monday. Finally, 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 report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target 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.