Quadrant Capital Group LLC Has $50,000 Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Quadrant Capital Group LLC cut its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 53.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,133 shares of the company’s stock after selling 1,304 shares during the period. Quadrant Capital Group LLC’s holdings in QuidelOrtho were worth $50,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in QDEL. Blue Trust Inc. grew its position in QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after purchasing an additional 844 shares in the last quarter. Spire Wealth Management bought a new position in shares of QuidelOrtho in the 4th quarter valued at about $74,000. KBC Group NV increased its position in shares of QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after acquiring an additional 1,895 shares during the last quarter. LPL Financial LLC bought a new stake in QuidelOrtho during the fourth quarter worth about $221,000. Finally, Captrust Financial Advisors acquired a new position in QuidelOrtho during the third quarter valued at approximately $238,000. Institutional investors own 99.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on QDEL shares. Royal Bank of Canada lowered their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. UBS Group raised their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Four analysts have rated the stock with a hold rating and three have assigned 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

Shares of NASDAQ QDEL opened at $26.91 on Friday. 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 company has a market capitalization of $1.81 billion, a P/E ratio of -0.89 and a beta of 0.43. QuidelOrtho Co. has a 12 month low of $25.13 and a 12 month high of $49.45. The stock has a 50 day moving average of $36.77 and a 200-day moving average of $40.14.

QuidelOrtho (NASDAQ:QDEL) last released 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%. As a group, equities research analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current year.

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.