ExodusPoint Capital Management LP Decreases Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

ExodusPoint Capital Management LP lessened its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 78.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,793 shares of the company's stock after selling 372,959 shares during the period. ExodusPoint Capital Management LP owned about 0.16% of QuidelOrtho worth $4,669,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC purchased a new position in QuidelOrtho during the 3rd quarter valued at $605,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of QuidelOrtho by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,584 shares of the company's stock worth $7,186,000 after purchasing an additional 2,385 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of QuidelOrtho during the third quarter valued at $238,000. State Street Corp grew its holdings in shares of QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company's stock worth $87,000,000 after purchasing an additional 275,522 shares during the last quarter. Finally, M&T Bank Corp increased its stake in QuidelOrtho by 33.4% in the 3rd quarter. M&T Bank Corp now owns 38,356 shares of the company's stock worth $1,749,000 after buying an additional 9,607 shares during the period. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Stock Up 1.9 %

Shares of NASDAQ:QDEL traded up $0.49 during trading hours on Friday, hitting $26.91. The company's stock had a trading volume of 1,573,750 shares, compared to its average volume of 977,533. 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 firm's fifty day moving average price is $36.77 and its 200 day moving average price is $40.14. QuidelOrtho Co. has a 52 week low of $25.13 and a 52 week high of $49.45. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -0.89 and a beta of 0.43.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 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, research analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. UBS Group boosted their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. 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 note 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $51.20.

About QuidelOrtho

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.