Ballast Asset Management LP Decreases Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Ballast Asset Management LP decreased its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 2.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 24,815 shares of the company’s stock after selling 617 shares during the period. Ballast Asset Management LP’s holdings in QuidelOrtho were worth $1,106,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of QDEL. Blue Trust Inc. grew its position in QuidelOrtho by 188.0% during the 4th 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 last quarter. Spire Wealth Management purchased a new stake in shares of QuidelOrtho during the fourth quarter valued at $74,000. KBC Group NV grew its holdings in shares of QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after buying an additional 1,895 shares during the last quarter. LPL Financial LLC acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $221,000. Finally, Captrust Financial Advisors purchased a new position in QuidelOrtho in the 3rd quarter worth $238,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group began coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective on the stock. UBS Group upped their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Finally, Royal Bank of Canada reduced their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $51.20.

QuidelOrtho Stock Up 0.2 %

QDEL stock opened at $34.97 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $40.01 and a two-hundred day moving average of $41.33. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -1.15 and a beta of 0.10. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (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%. As a group, analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

About QuidelOrtho

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.