Point72 Asset Management L.P. Has $4.18 Million Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Point72 Asset Management L.P. lowered its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 87.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,915 shares of the company’s stock after selling 658,709 shares during the period. Point72 Asset Management L.P. owned approximately 0.14% of QuidelOrtho worth $4,184,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of QuidelOrtho in the 4th quarter valued at $43,000. Blue Trust Inc. increased its stake in shares of QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after acquiring an additional 844 shares in the last quarter. Spire Wealth Management bought a new stake in shares of QuidelOrtho in the 4th quarter valued at $74,000. KBC Group NV increased its stake in shares of QuidelOrtho by 122.9% in the 4th 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 in the last quarter. Finally, Sterling Capital Management LLC increased its stake in shares of QuidelOrtho by 75.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company’s stock valued at $166,000 after acquiring an additional 1,601 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

QDEL has been the subject of several research analyst reports. Royal Bank of Canada lowered their price objective 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. Jefferies Financial Group upgraded QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Thursday, May 8th. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. JPMorgan Chase & Co. cut their price target on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. Finally, UBS Group cut their price target on QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, QuidelOrtho currently has an average rating of “Hold” and a consensus price target of $44.33.

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock opened at $32.57 on Tuesday. The company has a market cap of $2.20 billion, a PE ratio of -1.08 and a beta of 0.13. QuidelOrtho Co. has a 52 week low of $23.77 and a 52 week high of $49.45. The business has a 50 day moving average price of $30.85 and a 200-day moving average price of $37.96. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.61 by $0.13. The firm had revenue of $692.80 million during the quarter, compared to the consensus estimate of $694.97 million. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 earnings per share. Equities analysts anticipate 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.