QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC cut its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 47.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 254,764 shares of the company's stock after selling 231,238 shares during the quarter. Voloridge Investment Management LLC owned 0.38% of QuidelOrtho worth $11,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its holdings in QuidelOrtho by 19.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock worth $500,690,000 after buying an additional 1,840,667 shares during the period. Invesco Ltd. boosted its stake in shares of QuidelOrtho by 71.7% in the 4th quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock worth $153,584,000 after buying an additional 1,439,293 shares during the last quarter. Norges Bank purchased a new position in shares of QuidelOrtho in the 4th quarter worth $34,171,000. Vanguard Group Inc. boosted its stake in shares of QuidelOrtho by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after buying an additional 764,900 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its position in QuidelOrtho by 143.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,046,649 shares of the company's stock valued at $46,628,000 after purchasing an additional 617,592 shares in the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

QuidelOrtho Stock Performance

Shares of NASDAQ QDEL traded up $1.52 during trading hours on Tuesday, reaching $31.26. The stock had a trading volume of 1,568,199 shares, compared to its average volume of 1,076,745. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -1.03 and a beta of 0.13. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a fifty-two week low of $23.77 and a fifty-two week high of $49.45. The firm has a 50-day moving average of $30.26 and a 200-day moving average of $37.56.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.13. The firm had revenue of $692.80 million during 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 business's revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. Equities research analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QDEL. Royal Bank of Canada decreased their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a 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 for the company in a report on Thursday, May 8th. UBS Group dropped their target price on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. 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, Wall Street Zen downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, QuidelOrtho has a consensus rating of "Hold" and an average target price of $44.33.

QuidelOrtho Company 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.