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

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

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of QuidelOrtho by 64.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock valued at $12,405,000 after buying an additional 106,642 shares during the period. Moody National Bank Trust Division raised its position in QuidelOrtho by 126.5% in the fourth quarter. Moody National Bank Trust Division now owns 37,868 shares of the company's stock worth $1,687,000 after acquiring an additional 21,147 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in QuidelOrtho in the fourth quarter valued at $433,000. Oak Thistle LLC acquired a new stake in QuidelOrtho in the fourth quarter valued at $301,000. Finally, Merit Financial Group LLC purchased a new stake in shares of QuidelOrtho during the 4th quarter worth $301,000. Institutional investors and hedge funds own 99.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on QDEL shares. Royal Bank of Canada cut their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. StockNews.com downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. UBS Group upped their price target on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $46.83.

QuidelOrtho Price Performance

Shares of QDEL traded down $1.75 during mid-day trading on Tuesday, reaching $25.94. 2,386,386 shares of the company's stock were exchanged, compared to its average volume of 1,017,798. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -0.86 and a beta of 0.13. The company has a 50-day simple moving average of $32.07 and a two-hundred day simple moving average of $38.37.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share 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%. On average, sell-side analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

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.