QuidelOrtho Co. (NASDAQ:QDEL) Position Reduced by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lowered its position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 11.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,200 shares of the company's stock after selling 9,363 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.10% of QuidelOrtho worth $3,127,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of QDEL. T. Rowe Price Investment Management Inc. lifted its stake in QuidelOrtho by 19.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock worth $500,690,000 after purchasing an additional 1,840,667 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of QuidelOrtho by 71.7% in the 4th quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock valued at $153,584,000 after buying an additional 1,439,293 shares during the period. Norges Bank bought a new stake in shares of QuidelOrtho during the 4th quarter valued at about $34,171,000. Vanguard Group Inc. lifted its holdings in QuidelOrtho by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after acquiring an additional 764,900 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in QuidelOrtho by 143.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,046,649 shares of the company's stock valued at $46,628,000 after acquiring an additional 617,592 shares during the period. Institutional investors own 99.00% of the company's stock.

Analysts Set New Price Targets

QDEL has been the subject of several analyst reports. 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 report on Monday, April 21st. UBS Group lifted their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Royal Bank of Canada lowered 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. Finally, StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $46.83.

QuidelOrtho Price Performance

Shares of QDEL traded down $1.75 during midday trading on Tuesday, reaching $25.94. The stock had a trading volume of 2,386,386 shares, compared to its average volume of 1,017,798. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The company has a market capitalization of $1.75 billion, a P/E ratio of -0.86 and a beta of 0.13. The firm's 50 day moving average price is $32.07 and its 200-day moving average price is $38.37. QuidelOrtho Co. has a 52 week low of $23.77 and a 52 week 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 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%. On average, analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share 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.