Quadrant Capital Group LLC Sells 1,304 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Quadrant Capital Group LLC decreased its position in QuidelOrtho Co. (NASDAQ:QDEL) by 53.5% during the 4th quarter, according to the company in 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.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of 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 buying an additional 844 shares during the period. Spire Wealth Management bought a new position in QuidelOrtho in the fourth quarter valued at approximately $74,000. KBC Group NV grew its holdings in QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock worth $153,000 after acquiring an additional 1,895 shares during the period. LPL Financial LLC acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $221,000. Finally, Captrust Financial Advisors acquired a new position in shares of QuidelOrtho in the 3rd quarter valued at $238,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Royal Bank of Canada dropped their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. UBS Group upped their price target on 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 note on Saturday, February 15th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.20.

QuidelOrtho Trading Up 1.9 %

NASDAQ QDEL opened at $26.91 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The stock’s 50-day moving average is $36.77 and its 200-day moving average is $40.14. QuidelOrtho Co. has a one year low of $25.13 and a one year high of $49.45. The firm has a market cap of $1.81 billion, a P/E ratio of -0.89 and a beta of 0.43.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Wednesday, February 12th. The company reported $0.63 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%. Sell-side analysts anticipate that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal 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.