Russell Investments Group Ltd. Sells 13,208 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Russell Investments Group Ltd. reduced its holdings in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,941 shares of the company's stock after selling 13,208 shares during the quarter. Russell Investments Group Ltd.'s holdings in QuidelOrtho were worth $1,200,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in QDEL. Norges Bank acquired a new stake in shares of QuidelOrtho in the fourth quarter worth $34,171,000. Vanguard Group Inc. raised its holdings in QuidelOrtho by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock valued at $303,716,000 after acquiring an additional 764,900 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of QuidelOrtho by 143.9% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,046,649 shares of the company's stock worth $46,628,000 after acquiring an additional 617,592 shares during the period. Magnetar Financial LLC grew its holdings in shares of 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 purchasing an additional 592,307 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of QuidelOrtho by 72.6% during the fourth quarter. American Century Companies Inc. now owns 1,115,551 shares of the company's stock valued at $49,698,000 after purchasing an additional 469,132 shares during the period. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock traded up $0.33 during mid-day trading on Friday, reaching $28.11. 341,162 shares of the stock were exchanged, compared to its average volume of 994,565. QuidelOrtho Co. has a fifty-two week low of $23.77 and a fifty-two week high of $49.45. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -0.93 and a beta of 0.43. The firm has a 50-day simple moving average of $33.89 and a 200 day simple 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 posted its 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 negative net margin of 72.84% and a positive return on equity of 3.78%. On average, sell-side analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QDEL has been the subject of several research reports. StockNews.com cut QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. UBS Group raised their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Monday. Finally, Royal Bank of Canada dropped their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, QuidelOrtho presently has a consensus rating of "Hold" and a consensus price target of $46.83.

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.