Schonfeld Strategic Advisors LLC Sells 9,363 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Schonfeld Strategic Advisors LLC lessened its position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and 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 approximately 0.10% of QuidelOrtho worth $3,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of QDEL. Voya Investment Management LLC lifted its holdings in shares of QuidelOrtho by 7.7% during the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock valued at $336,000 after acquiring an additional 538 shares during the period. Corient Private Wealth LLC raised its position in shares of QuidelOrtho by 10.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,874 shares of the company's stock worth $306,000 after acquiring an additional 661 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock valued at $292,000 after acquiring an additional 816 shares during the period. Blue Trust Inc. increased its position in QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after purchasing an additional 844 shares during the period. Finally, Quarry LP bought a new stake in QuidelOrtho during the 4th quarter worth about $43,000. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Stock Down 0.7 %

NASDAQ QDEL traded down $0.24 during trading hours on Friday, hitting $36.22. 1,465,760 shares of the company traded hands, compared to its average volume of 1,057,402. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -1.20 and a beta of 0.13. QuidelOrtho Co. has a twelve month low of $23.77 and a twelve month high of $49.45. The business's 50-day moving average is $31.46 and its 200-day moving average is $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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.13. The firm had revenue of $692.80 million for the quarter, compared to analyst estimates of $694.97 million. QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. The company's quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. Sell-side analysts anticipate that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on QDEL shares. UBS Group dropped their price target on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price objective for the company in a report on Thursday. Royal Bank of Canada decreased their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, StockNews.com downgraded shares of 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, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $44.33.

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.