QuidelOrtho Co. (NASDAQ:QDEL) Stock Holdings Lifted by Beaconlight Capital LLC

Beaconlight Capital LLC raised its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 40.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 559,882 shares of the company's stock after purchasing an additional 161,810 shares during the period. QuidelOrtho accounts for approximately 9.2% of Beaconlight Capital LLC's holdings, making the stock its 3rd biggest position. Beaconlight Capital LLC owned 0.83% of QuidelOrtho worth $24,943,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in QDEL. Quarry LP purchased a new position in QuidelOrtho during the 4th quarter valued at approximately $43,000. Blue Trust Inc. grew its holdings in shares of QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after purchasing an additional 844 shares in the last quarter. Spire Wealth Management bought a new stake in QuidelOrtho in the fourth quarter worth $74,000. KBC Group NV raised its stake in QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after purchasing an additional 1,895 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in QuidelOrtho by 75.3% during the fourth 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. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Trading Down 0.7 %

QDEL stock traded down $0.24 during midday trading on Friday, reaching $36.22. The company's stock had a trading volume of 1,789,722 shares, compared to its average volume of 1,058,225. 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 $2.44 billion, a price-to-earnings ratio of -1.20 and a beta of 0.13. The stock has a fifty day simple moving average of $31.46 and a two-hundred day simple moving average of $38.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly 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 company had revenue of $692.80 million for the quarter, compared to the consensus estimate of $694.97 million. QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. The firm's revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. On average, equities research analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. UBS Group decreased their price objective on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price for the company in a report on Thursday. StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Finally, Royal Bank of Canada dropped their price objective 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $44.33.

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.