QuidelOrtho Co. (NASDAQ:QDEL) Position Increased by Beaconlight Capital LLC

Beaconlight Capital LLC boosted its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 40.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 559,882 shares of the company's stock after purchasing an additional 161,810 shares during the quarter. QuidelOrtho makes up 9.2% of Beaconlight Capital LLC's investment portfolio, making the stock its 3rd biggest holding. Beaconlight Capital LLC owned approximately 0.83% of QuidelOrtho worth $24,943,000 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. Quarry LP purchased a new position in QuidelOrtho in the fourth quarter valued at approximately $43,000. Blue Trust Inc. grew its position in shares of QuidelOrtho by 188.0% in the 4th 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 last quarter. Spire Wealth Management acquired a new stake in QuidelOrtho during the 4th quarter worth $74,000. KBC Group NV lifted its position in QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after acquiring an additional 1,895 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake in QuidelOrtho by 75.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock valued at $166,000 after acquiring an additional 1,601 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Stock Performance

Shares of NASDAQ QDEL traded down $1.75 during mid-day trading on Tuesday, hitting $25.94. 2,386,386 shares of the company were exchanged, compared to its average volume of 1,017,798. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -0.86 and a beta of 0.13. The stock has a 50 day simple moving average of $31.80 and a 200-day simple moving average of $38.28. QuidelOrtho Co. has a 1-year low of $23.77 and a 1-year high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued 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 positive return on equity of 3.78% and a negative net margin of 72.84%. On average, sell-side analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. UBS Group boosted their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. StockNews.com downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Royal Bank of Canada cut their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $46.83.

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.