Gabelli Funds LLC Sells 9,100 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Gabelli Funds LLC lessened its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 145,830 shares of the company’s stock after selling 9,100 shares during the period. Gabelli Funds LLC’s holdings in QuidelOrtho were worth $6,497,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Blue Trust Inc. lifted its stake in QuidelOrtho by 188.0% during 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 acquired a new position in shares of QuidelOrtho during the 4th quarter worth $74,000. KBC Group NV lifted its position in shares of QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock worth $153,000 after buying an additional 1,895 shares during the last quarter. Sterling Capital Management LLC boosted its stake in QuidelOrtho by 75.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,726 shares of the company’s stock valued at $166,000 after buying an additional 1,601 shares in the last quarter. Finally, LPL Financial LLC bought a new position in QuidelOrtho in the fourth quarter valued at about $221,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

QDEL has been the topic of a number of research analyst reports. StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. UBS Group boosted their target price 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. Finally, Royal Bank of Canada dropped their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note 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, the stock presently has an average rating of “Hold” and a consensus target price of $51.20.

QuidelOrtho Trading Down 0.4 %

QDEL opened at $25.17 on Friday. The company’s 50 day moving average price is $35.42 and its two-hundred day moving average price is $39.65. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -0.83 and a beta of 0.43. QuidelOrtho Co. has a fifty-two week low of $24.44 and a fifty-two week high of $49.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69.

QuidelOrtho (NASDAQ:QDEL) last posted 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%. As a group, research analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

QuidelOrtho Company 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.