Cwm LLC Has $1.14 Million Holdings in QuidelOrtho Corporation $QDEL

Cwm LLC lessened its stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 55.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,550 shares of the company's stock after selling 48,416 shares during the quarter. Cwm LLC owned about 0.06% of QuidelOrtho worth $1,140,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bfsg LLC grew its holdings in shares of QuidelOrtho by 6.8% during the second quarter. Bfsg LLC now owns 5,460 shares of the company's stock worth $157,000 after purchasing an additional 347 shares during the last quarter. Quarry LP boosted its holdings in QuidelOrtho by 47.1% in the first quarter. Quarry LP now owns 1,436 shares of the company's stock valued at $50,000 after acquiring an additional 460 shares during the last quarter. Blue Trust Inc. boosted its holdings in QuidelOrtho by 46.4% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company's stock valued at $57,000 after acquiring an additional 623 shares during the last quarter. Voya Investment Management LLC boosted its holdings in QuidelOrtho by 9.2% in the first quarter. Voya Investment Management LLC now owns 8,243 shares of the company's stock valued at $288,000 after acquiring an additional 692 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in QuidelOrtho by 0.6% in the first quarter. Rhumbline Advisers now owns 129,025 shares of the company's stock valued at $4,512,000 after acquiring an additional 770 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on QDEL shares. Wall Street Zen cut QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group reduced their target price on QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Citigroup reissued a "neutral" rating and issued a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. Zacks Research lowered QuidelOrtho from a "hold" rating to a "strong sell" rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $37.80.

QuidelOrtho Price Performance

Shares of NASDAQ:QDEL opened at $29.83 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. QuidelOrtho Corporation has a twelve month low of $22.05 and a twelve month high of $49.45. The stock's 50 day moving average is $28.10 and its 200-day moving average is $28.32. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -4.56 and a beta of 0.27.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.11. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The company had revenue of $613.90 million for the quarter, compared to analyst estimates of $612.36 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. QuidelOrtho's revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

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.

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