AQR Capital Management LLC Has $35.82 Million Stake in QuidelOrtho Co. (NASDAQ:QDEL)

AQR Capital Management LLC grew its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 204.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 803,986 shares of the company's stock after buying an additional 539,977 shares during the period. AQR Capital Management LLC owned 1.20% of QuidelOrtho worth $35,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of QuidelOrtho by 64.5% in the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock valued at $12,405,000 after acquiring an additional 106,642 shares in the last quarter. Moody National Bank Trust Division raised its holdings in shares of QuidelOrtho by 126.5% during the fourth quarter. Moody National Bank Trust Division now owns 37,868 shares of the company's stock valued at $1,687,000 after purchasing an additional 21,147 shares during the period. Pallas Capital Advisors LLC bought a new stake in QuidelOrtho during the 4th quarter worth approximately $433,000. Oak Thistle LLC purchased a new stake in shares of QuidelOrtho during the 4th quarter valued at $301,000. Finally, Merit Financial Group LLC purchased a new stake in shares of QuidelOrtho during the 4th quarter valued at approximately $301,000. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Stock Performance

Shares of NASDAQ QDEL traded down $1.75 during mid-day trading on Tuesday, hitting $25.94. The company had a trading volume of 2,386,386 shares, compared to its average volume of 1,016,845. QuidelOrtho Co. has a 12 month low of $23.77 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 stock has a market cap of $1.75 billion, a price-to-earnings ratio of -0.86 and a beta of 0.13. The firm's 50 day simple moving average is $32.07 and its two-hundred day simple moving average is $38.37.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.63 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%. As a group, equities research analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QDEL. StockNews.com cut QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Royal Bank of Canada decreased their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. UBS Group lifted their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.