Massachusetts Financial Services Co. MA Sells 300,126 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 88.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,934 shares of the company's stock after selling 300,126 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of QuidelOrtho worth $1,824,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Blue Trust Inc. grew its holdings in QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after acquiring an additional 844 shares during the period. Spire Wealth Management acquired a new stake in QuidelOrtho in the 4th quarter valued at $74,000. KBC Group NV increased its stake in QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after purchasing an additional 1,895 shares in the last quarter. LPL Financial LLC bought a new stake in QuidelOrtho during the 4th quarter valued at $221,000. Finally, Captrust Financial Advisors acquired a new position in QuidelOrtho during the third quarter worth $238,000. Institutional investors own 99.00% of the company's stock.

Analyst Ratings Changes

QDEL has been the subject of several recent research reports. StockNews.com downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. UBS Group increased their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada cut their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, QuidelOrtho presently has a consensus rating of "Hold" and an average price target of $51.20.

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock traded up $0.31 during trading hours on Monday, hitting $27.22. 138,643 shares of the company's stock traded hands, compared to its average volume of 982,774. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -0.90 and a beta of 0.43. QuidelOrtho Co. has a 12-month low of $25.13 and a 12-month high of $49.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The company has a fifty day simple moving average of $36.77 and a 200-day simple moving average of $40.12.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued 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 positive return on equity of 3.78% and a negative net margin of 72.84%. Equities research analysts anticipate 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.