Signaturefd LLC Sells 305 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Signaturefd LLC cut its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,531 shares of the company’s stock after selling 305 shares during the quarter. Signaturefd LLC’s holdings in QuidelOrtho were worth $113,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in QDEL. Kornitzer Capital Management Inc. KS boosted its holdings in QuidelOrtho by 7.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 143,855 shares of the company’s stock worth $10,602,000 after acquiring an additional 10,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of QuidelOrtho by 154.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,178 shares of the company’s stock worth $1,856,000 after purchasing an additional 15,289 shares during the period. Oak Family Advisors LLC lifted its holdings in shares of QuidelOrtho by 61.7% in the 4th quarter. Oak Family Advisors LLC now owns 81,288 shares of the company’s stock worth $5,991,000 after purchasing an additional 31,016 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in QuidelOrtho in the 4th quarter valued at $299,000. Finally, Louisiana State Employees Retirement System bought a new stake in QuidelOrtho during the 4th quarter valued at $1,024,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Stock Performance

Shares of QDEL opened at $39.36 on Tuesday. The stock has a 50 day moving average of $44.50 and a 200 day moving average of $59.34. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -246.00 and a beta of 0.11. QuidelOrtho Co. has a 12 month low of $37.78 and a 12 month high of $95.02. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). The company had revenue of $742.60 million for the quarter, compared to analysts’ expectations of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The business’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the business posted $1.74 EPS. As a group, sell-side analysts forecast that QuidelOrtho Co. will post 2.28 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on QDEL shares. Craig Hallum reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. UBS Group reiterated a “sell” rating and set a $42.00 price target (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Raymond James restated an “outperform” rating and set a $76.00 price objective (down from $100.00) on shares of QuidelOrtho in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada cut their price objective on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, QuidelOrtho currently has an average rating of “Hold” and a consensus target price of $61.60.

Insider Buying and Selling

In other news, CFO Joseph M. Busky bought 2,150 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was acquired at an average cost of $46.35 per share, with a total value of $99,652.50. Following the completion of the transaction, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at approximately $99,652.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

QuidelOrtho Company 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.