Gotham Asset Management LLC Increases Stake in QuidelOrtho Co. (NASDAQ:QDEL)

Gotham Asset Management LLC lifted its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,200 shares of the company's stock after acquiring an additional 26,751 shares during the period. Gotham Asset Management LLC owned approximately 0.26% of QuidelOrtho worth $7,939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new position in QuidelOrtho during the fourth quarter worth about $43,000. Blue Trust Inc. increased its position in shares of QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after purchasing an additional 844 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of QuidelOrtho during the 4th quarter valued at $74,000. KBC Group NV raised its stake in shares of QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock worth $153,000 after purchasing an additional 1,895 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of QuidelOrtho by 75.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock worth $166,000 after buying 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 brokerages have recently issued reports on QDEL. JPMorgan Chase & Co. decreased their price target on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Royal Bank of Canada reduced their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price on the stock in a research note on Thursday, May 8th. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $44.33.

QuidelOrtho Stock Down 1.5%

QDEL traded down $0.52 during midday trading on Thursday, reaching $33.03. The company's stock had a trading volume of 1,402,726 shares, compared to its average volume of 1,066,329. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The stock's 50-day moving average is $31.02 and its 200-day moving average is $38.04. QuidelOrtho Co. has a 1 year low of $23.77 and a 1 year high of $49.45. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -1.09 and a beta of 0.13.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.61 by $0.13. The business had revenue of $692.80 million for the quarter, compared to the consensus estimate of $694.97 million. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The company's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. As a group, research analysts expect that QuidelOrtho Co. will post 2.3 EPS 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.