Man Group plc increased its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 89.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,294 shares of the company's stock after acquiring an additional 22,319 shares during the quarter. Man Group plc owned about 0.07% of QuidelOrtho worth $2,107,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in shares of QuidelOrtho in the fourth quarter valued at about $301,000. SG Americas Securities LLC boosted its stake in QuidelOrtho by 522.2% in the 4th quarter. SG Americas Securities LLC now owns 87,372 shares of the company's stock worth $3,892,000 after purchasing an additional 73,330 shares during the period. Blue Trust Inc. grew its holdings in QuidelOrtho by 344.3% during the 4th quarter. Blue Trust Inc. now owns 1,995 shares of the company's stock valued at $91,000 after buying an additional 1,546 shares in the last quarter. KBC Group NV raised its position in shares of QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after buying an additional 1,895 shares during the last quarter. Finally, Gagnon Securities LLC lifted its holdings in shares of QuidelOrtho by 45.4% in the fourth quarter. Gagnon Securities LLC now owns 91,060 shares of the company's stock worth $4,057,000 after buying an additional 28,431 shares in the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.
QuidelOrtho Trading Up 0.5%
Shares of QuidelOrtho stock traded up $0.16 during trading on Wednesday, hitting $31.42. The stock had a trading volume of 190,835 shares, compared to its average volume of 1,073,337. 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 $2.12 billion, a PE ratio of -1.04 and a beta of 0.13. QuidelOrtho Co. has a 12 month low of $23.77 and a 12 month high of $49.45. The firm's fifty day simple moving average is $30.26 and its 200-day simple moving average is $37.56.
QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.13. The firm had revenue of $692.80 million during the quarter, compared to analyst estimates of $694.97 million. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. QuidelOrtho's quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. As a group, sell-side analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. UBS Group reduced their price target on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Royal Bank of Canada decreased their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Wall Street Zen lowered QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Jefferies Financial Group raised QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price objective on the stock in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $44.33.
View Our Latest Stock Report on QDEL
About QuidelOrtho
(
Free Report)
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.
See Also
Before you consider QuidelOrtho, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and QuidelOrtho wasn't on the list.
While QuidelOrtho currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
