HBK Investments L P Has $16.88 Million Stock Holdings in QuidelOrtho Corporation $QDEL

HBK Investments L P lowered its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 23.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 482,701 shares of the company’s stock after selling 147,070 shares during the period. QuidelOrtho comprises about 0.4% of HBK Investments L P’s investment portfolio, making the stock its 29th biggest holding. HBK Investments L P owned 0.72% of QuidelOrtho worth $16,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Focus Partners Advisor Solutions LLC acquired a new stake in QuidelOrtho during the first quarter valued at $380,000. Royal Bank of Canada raised its stake in shares of QuidelOrtho by 1,218.7% during the 1st quarter. Royal Bank of Canada now owns 80,193 shares of the company’s stock worth $2,803,000 after purchasing an additional 74,112 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its holdings in shares of QuidelOrtho by 570.7% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 469,500 shares of the company’s stock valued at $16,418,000 after buying an additional 399,500 shares during the last quarter. Quarry LP lifted its holdings in shares of QuidelOrtho by 47.1% during the 1st quarter. Quarry LP now owns 1,436 shares of the company’s stock valued at $50,000 after buying an additional 460 shares during the last quarter. Finally, Vident Advisory LLC bought a new stake in shares of QuidelOrtho in the 1st quarter valued at approximately $240,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

NASDAQ QDEL opened at $28.69 on Monday. QuidelOrtho Corporation has a 1 year low of $22.05 and a 1 year high of $49.45. The company has a fifty day simple moving average of $27.08 and a 200 day simple moving average of $30.61. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a market cap of $1.95 billion, a P/E ratio of -4.39 and a beta of 0.14.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.11. The firm had revenue of $613.90 million during the quarter, compared to analyst estimates of $612.36 million. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. On average, sell-side analysts predict that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

QDEL has been the topic of several recent research reports. Citigroup cut their price objective on shares of QuidelOrtho from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. UBS Group dropped their price target on shares of QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Wall Street Zen lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Thursday, May 8th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.17.

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.