QuidelOrtho Co. (NASDAQ:QDEL) Position Trimmed by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 43.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,897 shares of the company’s stock after selling 13,939 shares during the quarter. Amalgamated Bank’s holdings in QuidelOrtho were worth $816,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QDEL. Seven Eight Capital LP acquired a new stake in shares of QuidelOrtho during the 1st quarter valued at $2,388,000. Edgestream Partners L.P. purchased a new position in QuidelOrtho in the first quarter valued at about $919,000. Hsbc Holdings PLC increased its position in QuidelOrtho by 316.2% in the 2nd quarter. Hsbc Holdings PLC now owns 28,916 shares of the company’s stock worth $962,000 after purchasing an additional 21,968 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of QuidelOrtho during the 2nd quarter valued at about $4,669,000. Finally, Vanguard Group Inc. increased its holdings in QuidelOrtho by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock worth $233,906,000 after buying an additional 37,733 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $38.96 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $75.86. The company has a fifty day moving average price of $42.28 and a 200 day moving average price of $40.48. The stock has a market cap of $2.62 billion, a P/E ratio of -1.40 and a beta of 0.12.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The business had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts anticipate that QuidelOrtho Co. will post 1.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on QDEL. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. UBS Group assumed coverage on shares of QuidelOrtho in a research note on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price objective for the company. Finally, Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $57.00 in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.83.

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.