Massachusetts Financial Services Co. MA Sells 300,126 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Massachusetts Financial Services Co. MA lessened its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 88.0% during the 4th quarter, HoldingsChannel reports. The firm owned 40,934 shares of the company’s stock after selling 300,126 shares during the period. Massachusetts Financial Services Co. MA’s holdings in QuidelOrtho were worth $1,824,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QDEL. Vanguard Group Inc. lifted its position in QuidelOrtho by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company’s stock worth $303,716,000 after buying an additional 764,900 shares during the last quarter. State Street Corp grew its stake in QuidelOrtho by 16.9% in the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after acquiring an additional 275,522 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in QuidelOrtho by 14.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company’s stock worth $62,666,000 after purchasing an additional 173,174 shares during the period. American Century Companies Inc. lifted its stake in QuidelOrtho by 72.6% in the fourth quarter. American Century Companies Inc. now owns 1,115,551 shares of the company’s stock worth $49,698,000 after acquiring an additional 469,132 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of QuidelOrtho by 17.7% in the 4th quarter. Geode Capital Management LLC now owns 1,083,461 shares of the company’s stock worth $48,285,000 after purchasing an additional 162,758 shares during the period. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Down 7.6 %

Shares of QDEL stock opened at $26.20 on Wednesday. QuidelOrtho Co. has a fifty-two week low of $26.00 and a fifty-two week high of $49.45. The firm has a market capitalization of $1.77 billion, a PE ratio of -0.87 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The stock’s 50-day simple moving average is $37.99 and its 200-day simple moving average is $40.58.

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

Analyst Ratings Changes

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