Quantbot Technologies LP Makes New Investment in QuidelOrtho Co. (NASDAQ:QDEL)

Quantbot Technologies LP bought a new stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,736 shares of the company’s stock, valued at approximately $612,000.

A number of other large investors have also recently made changes to their positions in QDEL. Corient Private Wealth LLC lifted its holdings in QuidelOrtho by 10.6% during the 4th quarter. Corient Private Wealth LLC now owns 6,874 shares of the company’s stock valued at $306,000 after buying an additional 661 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of QuidelOrtho by 14.2% in the 4th quarter. CIBC Asset Management Inc now owns 6,564 shares of the company’s stock worth $292,000 after purchasing an additional 816 shares during the period. Blue Trust Inc. boosted its position in 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 acquiring an additional 844 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of QuidelOrtho by 14.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 9,985 shares of the company’s stock valued at $445,000 after acquiring an additional 1,289 shares during the period. Finally, Spire Wealth Management bought a new position in shares of QuidelOrtho in the 4th quarter worth $74,000. 99.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QDEL has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. 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 boosted their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Jefferies Financial Group began coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price for the company. Finally, StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, QuidelOrtho has an average rating of “Hold” and an average target price of $51.20.

QuidelOrtho Trading Up 2.4 %

Shares of QuidelOrtho stock opened at $35.87 on Friday. The firm’s 50 day simple moving average is $40.28 and its two-hundred day simple moving average is $41.51. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -1.18 and a beta of 0.10. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $49.45. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share 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%. Analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current year.

QuidelOrtho 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.