Russell Investments Group Ltd. Has $1.42 Million Holdings in QuidelOrtho Corporation $QDEL

Russell Investments Group Ltd. increased its position in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 50.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,499 shares of the company’s stock after acquiring an additional 13,558 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of QuidelOrtho worth $1,416,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of QuidelOrtho during the fourth quarter valued at approximately $43,000. True Wealth Design LLC increased its stake in QuidelOrtho by 300.7% in the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $48,000 after buying an additional 806 shares during the period. State of Wyoming acquired a new position in QuidelOrtho in the 4th quarter valued at approximately $164,000. Humankind Investments LLC acquired a new position in QuidelOrtho in the 4th quarter valued at approximately $211,000. Finally, LPL Financial LLC acquired a new position in QuidelOrtho in the 4th quarter valued at approximately $221,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

QDEL stock opened at $27.77 on Thursday. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -4.25 and a beta of -0.04. QuidelOrtho Corporation has a 12 month low of $22.05 and a 12 month high of $49.45. The firm has a 50 day moving average of $27.07 and a two-hundred day moving average of $30.94.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.11. The business had revenue of $613.90 million during the quarter, compared to the consensus estimate of $612.36 million. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. QuidelOrtho’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) EPS. As a group, equities analysts anticipate that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Citigroup dropped their price objective on shares of QuidelOrtho from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Jefferies Financial Group upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Thursday, May 8th. Finally, UBS Group dropped their price objective on shares of QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, QuidelOrtho has an average rating of “Hold” and an average target price of $42.17.

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.