Systematic Financial Management LP Purchases 10,527 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Systematic Financial Management LP grew its position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,561 shares of the company's stock after buying an additional 10,527 shares during the quarter. Systematic Financial Management LP owned approximately 0.24% of QuidelOrtho worth $7,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in QDEL. Quarry LP acquired a new stake in QuidelOrtho in the 4th quarter valued at approximately $43,000. Blue Trust Inc. grew its stake in shares of QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after acquiring an additional 844 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of QuidelOrtho in the fourth quarter worth $74,000. KBC Group NV increased its position in QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock worth $153,000 after acquiring an additional 1,895 shares during the period. Finally, Sterling Capital Management LLC raised its stake in QuidelOrtho by 75.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock valued at $166,000 after purchasing an additional 1,601 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on QDEL. Jefferies Financial Group upgraded shares of 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, May 8th. Royal Bank of Canada lowered their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Wall Street Zen downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. JPMorgan Chase & Co. lowered their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Finally, UBS Group reduced their target price on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, QuidelOrtho presently has a consensus rating of "Hold" and a consensus target price of $44.33.

QuidelOrtho Stock Down 1.2%

QDEL stock traded down $0.38 during trading hours on Friday, reaching $29.81. 494,474 shares of the stock were exchanged, compared to its average volume of 1,068,987. 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 company has a market cap of $2.02 billion, a price-to-earnings ratio of -0.98 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 50-day moving average is $30.54 and its 200-day moving average is $37.80.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced 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. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The firm had revenue of $692.80 million for the quarter, compared to the consensus estimate of $694.97 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The business's revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current 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.