Skylands Capital LLC Has $3.74 Million Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Skylands Capital LLC lessened its stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,000 shares of the company's stock after selling 36,250 shares during the period. Skylands Capital LLC owned about 0.12% of QuidelOrtho worth $3,742,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QDEL. Point72 Asset Management L.P. bought a new stake in shares of QuidelOrtho in the 3rd quarter worth approximately $34,320,000. Rubric Capital Management LP raised its stake in shares of QuidelOrtho by 15.2% in the third quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company's stock valued at $191,520,000 after purchasing an additional 554,410 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in QuidelOrtho in the third quarter worth $19,565,000. Beaconlight Capital LLC bought a new position in QuidelOrtho in the third quarter worth $18,152,000. Finally, State Street Corp boosted its stake in QuidelOrtho by 16.9% during the third quarter. State Street Corp now owns 1,907,898 shares of the company's stock worth $87,000,000 after buying an additional 275,522 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Price Performance

Shares of QDEL traded down $1.10 on Thursday, hitting $39.78. The company's stock had a trading volume of 751,845 shares, compared to its average volume of 909,543. The company has a market capitalization of $2.68 billion, a PE ratio of -1.31 and a beta of 0.08. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $49.45. The company has a 50 day moving average price of $43.34 and a 200 day moving average price of $42.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69.

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QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted 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%. On average, research analysts anticipate that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on QDEL. Citigroup raised shares of QuidelOrtho from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. StockNews.com downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Royal Bank of Canada dropped 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. UBS Group raised their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, William Blair reiterated a "market perform" rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, QuidelOrtho presently has a consensus rating of "Hold" and a consensus price target of $51.20.

Insider Activity

In other news, CEO Brian J. Blaser purchased 6,033 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $41.42 per share, with a total value of $249,886.86. Following the completion of the purchase, the chief executive officer now directly owns 6,033 shares of the company's stock, valued at $249,886.86. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

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.