US Bancorp DE Decreases Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

US Bancorp DE trimmed its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 25.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,510 shares of the company’s stock after selling 867 shares during the quarter. US Bancorp DE’s holdings in QuidelOrtho were worth $112,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. CIBC Asset Management Inc raised its position in shares of QuidelOrtho by 14.2% during the 4th quarter. CIBC Asset Management Inc now owns 6,564 shares of the company’s stock valued at $292,000 after buying an additional 816 shares in the last quarter. Blue Trust Inc. raised 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 valued at $58,000 after buying an additional 844 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of QuidelOrtho by 14.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 9,985 shares of the company’s stock valued at $445,000 after buying an additional 1,289 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of QuidelOrtho during the 4th quarter valued at about $74,000. Finally, Victory Capital Management Inc. raised its position in shares of QuidelOrtho by 7.7% during the 3rd quarter. Victory Capital Management Inc. now owns 23,404 shares of the company’s stock valued at $1,067,000 after buying an additional 1,667 shares in the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

Shares of QDEL stock opened at $36.12 on Monday. 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 company has a market capitalization of $2.44 billion, a P/E ratio of -1.19 and a beta of 0.10. The company’s 50-day simple moving average is $41.89 and its two-hundred day simple moving average is $41.94. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Wednesday, February 12th. The company reported $0.63 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%. As a group, equities analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QDEL. UBS Group increased their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Royal Bank of Canada reduced their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. StockNews.com lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group began coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, QuidelOrtho presently has an average rating of “Hold” and an average price target 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.