QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL reduced its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 45.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,683 shares of the company's stock after selling 99,688 shares during the period. Tudor Investment Corp ET AL owned about 0.18% of QuidelOrtho worth $5,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its stake in shares of QuidelOrtho by 75.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock worth $166,000 after acquiring an additional 1,601 shares in the last quarter. Merit Financial Group LLC purchased a new position in QuidelOrtho during the fourth quarter worth approximately $301,000. Principal Financial Group Inc. grew its holdings in QuidelOrtho by 64.5% in the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock valued at $12,405,000 after purchasing an additional 106,642 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of QuidelOrtho by 22.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 54,411 shares of the company's stock valued at $2,424,000 after buying an additional 9,956 shares in the last quarter. Finally, Moody National Bank Trust Division raised its stake in shares of QuidelOrtho by 126.5% during the 4th quarter. Moody National Bank Trust Division now owns 37,868 shares of the company's stock worth $1,687,000 after buying an additional 21,147 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QDEL has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. StockNews.com cut QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $46.83.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $27.79 on Thursday. QuidelOrtho Co. has a one year low of $23.77 and a one year high of $49.45. The stock has a market cap of $1.87 billion, a PE ratio of -0.92 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The stock has a 50 day moving average price of $32.86 and a 200 day moving average price of $38.64.

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

QuidelOrtho 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.

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