QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Aristotle Capital Boston LLC

Aristotle Capital Boston LLC reduced its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,640 shares of the company's stock after selling 32,759 shares during the quarter. Aristotle Capital Boston LLC owned about 0.46% of QuidelOrtho worth $13,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QDEL. Voya Investment Management LLC increased its position in shares of QuidelOrtho by 7.7% during the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock worth $336,000 after purchasing an additional 538 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of QuidelOrtho by 10.6% in the fourth quarter. Corient Private Wealth LLC now owns 6,874 shares of the company's stock valued at $306,000 after acquiring an additional 661 shares during the period. CIBC Asset Management Inc grew its position in shares of QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock worth $292,000 after acquiring an additional 816 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after acquiring an additional 844 shares during the period. Finally, Quarry LP purchased a new stake in QuidelOrtho in the 4th quarter valued at $43,000. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Stock Performance

Shares of QDEL stock traded up $10.27 during trading hours on Thursday, reaching $36.12. 3,775,979 shares of the company's stock were exchanged, compared to its average volume of 1,042,866. The company's 50 day moving average is $31.51 and its two-hundred day moving average is $38.20. The company has a market cap of $2.44 billion, a P/E ratio of -1.19 and a beta of 0.13. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. QuidelOrtho Co. has a 1 year low of $23.77 and a 1 year high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.13. The business had revenue of $692.80 million for the quarter, compared to analysts' expectations of $694.97 million. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The company's revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. Equities research analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QDEL. Royal Bank of Canada lowered their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a research report on Thursday. UBS Group increased their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their target price on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Finally, StockNews.com downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $47.00.

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.