QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 32.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,941 shares of the company’s stock after selling 13,208 shares during the period. Russell Investments Group Ltd.’s holdings in QuidelOrtho were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC purchased a new position in QuidelOrtho during the 4th quarter worth approximately $301,000. Principal Financial Group Inc. raised its stake in QuidelOrtho by 64.5% during the 3rd quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock valued at $12,405,000 after acquiring an additional 106,642 shares during the last quarter. Geode Capital Management LLC lifted its position in QuidelOrtho by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock worth $41,996,000 after acquiring an additional 16,059 shares during the period. State of New Jersey Common Pension Fund D raised its position in QuidelOrtho by 22.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 54,411 shares of the company’s stock worth $2,424,000 after buying an additional 9,956 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its holdings in QuidelOrtho by 126.5% in the 4th quarter. Moody National Bank Trust Division now owns 37,868 shares of the company’s stock valued at $1,687,000 after purchasing an additional 21,147 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Analyst Upgrades and Downgrades

QDEL has been the subject of several recent analyst reports. Royal Bank of Canada reduced their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, UBS Group lifted their price target on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.20.

QuidelOrtho Stock Performance

QuidelOrtho stock opened at $25.17 on Monday. QuidelOrtho Co. has a fifty-two week low of $24.44 and a fifty-two week high of $49.45. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -0.83 and a beta of 0.43. The stock has a fifty day moving average of $35.09 and a two-hundred day moving average of $39.46. 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) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 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, analysts anticipate that QuidelOrtho Co. will post 2.3 EPS 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.