US Bancorp DE Sells 867 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

US Bancorp DE cut its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 25.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,510 shares of the company’s stock after selling 867 shares during the period. US Bancorp DE’s holdings in QuidelOrtho were worth $112,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QDEL. Point72 Asset Management L.P. acquired a new stake in QuidelOrtho in the third quarter valued at approximately $34,320,000. Rubric Capital Management LP boosted its stake in QuidelOrtho by 15.2% in the third quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock valued at $191,520,000 after acquiring an additional 554,410 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in QuidelOrtho in the third quarter valued at approximately $19,565,000. Beaconlight Capital LLC acquired a new stake in QuidelOrtho in the third quarter valued at approximately $18,152,000. Finally, State Street Corp boosted its stake in QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after acquiring an additional 275,522 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Trading Up 1.5 %

NASDAQ QDEL opened at $36.12 on Monday. The company has a fifty day simple moving average of $41.89 and a two-hundred day simple moving average of $41.94. The stock has a market cap of $2.44 billion, a P/E ratio of -1.19 and a beta of 0.10. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $49.45. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL) last issued 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%. On average, analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price for the company. Royal Bank of Canada lowered their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note 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. 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 report on Wednesday, December 11th. Finally, StockNews.com cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.20.

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.