Legal & General Group Plc Sells 4,864 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Legal & General Group Plc decreased its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,938 shares of the company’s stock after selling 4,864 shares during the period. Legal & General Group Plc’s holdings in QuidelOrtho were worth $7,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its stake in 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 last quarter. Spire Wealth Management acquired a new position in shares of QuidelOrtho during the fourth quarter valued at about $74,000. KBC Group NV raised its position in shares of QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after purchasing an additional 1,895 shares during the last quarter. LPL Financial LLC acquired a new stake in QuidelOrtho in the 4th quarter worth approximately $221,000. Finally, CIBC Asset Management Inc grew its position in QuidelOrtho by 14.2% during 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 last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock opened at $25.17 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a twelve month low of $24.44 and a twelve month high of $49.45. The business has a 50-day moving average price of $35.09 and a 200 day moving average price of $39.52. The firm has a market cap of $1.70 billion, a PE ratio of -0.83 and a beta of 0.43.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results 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%. Sell-side analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

QDEL has been the subject of several research reports. UBS Group lifted 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. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Finally, Royal Bank of Canada decreased their target price on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.