Marshall Wace LLP Raises Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Marshall Wace LLP raised its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 2,170.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,292 shares of the company’s stock after buying an additional 229,707 shares during the period. Marshall Wace LLP owned about 0.36% of QuidelOrtho worth $10,705,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after purchasing an additional 844 shares during the last quarter. Spire Wealth Management bought a new stake in shares of QuidelOrtho in the 4th quarter worth approximately $74,000. KBC Group NV increased its stake in shares of QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after buying an additional 1,895 shares during the period. Sterling Capital Management LLC raised its holdings in shares of QuidelOrtho by 75.3% during the fourth 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. Finally, LPL Financial LLC purchased a new stake in QuidelOrtho in the fourth quarter worth $221,000. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Price Performance

QDEL stock opened at $24.56 on Tuesday. 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 firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -0.81 and a beta of 0.43. The firm has a 50 day moving average price of $34.78 and a 200-day moving average price of $39.32. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data 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 negative net margin of 72.84% and a positive return on equity of 3.78%. Equities research analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

QDEL has been the subject of several research reports. UBS Group upped their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a research report on Monday. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, Royal Bank of Canada dropped 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.83.

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.