Marshall Wace LLP Raises Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Marshall Wace LLP lifted its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 2,170.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 240,292 shares of the company's stock after purchasing an additional 229,707 shares during the period. Marshall Wace LLP owned 0.36% of QuidelOrtho worth $10,705,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after buying an additional 844 shares during the period. Spire Wealth Management purchased a new stake in shares of QuidelOrtho during the 4th quarter valued at $74,000. KBC Group NV boosted its holdings in QuidelOrtho by 122.9% in 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 in the last quarter. Sterling Capital Management LLC raised its position 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 valued at $166,000 after purchasing an additional 1,601 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in QuidelOrtho in the 4th quarter worth approximately $221,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on QDEL. StockNews.com cut QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. JPMorgan Chase & Co. reduced their price target on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Royal Bank of Canada cut their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Finally, UBS Group raised their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $46.83.

QuidelOrtho Stock Up 1.1 %

QuidelOrtho stock traded up $0.31 during trading on Friday, reaching $28.09. The stock had a trading volume of 1,190,998 shares, compared to its average volume of 999,926. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45. The business has a 50 day moving average price of $33.62 and a 200 day moving average price of $38.88. The stock has a market cap of $1.89 billion, a PE ratio of -0.93 and a beta of 0.43. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. On average, analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current year.

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.