QuidelOrtho Co. (NASDAQ:QDEL) Stake Lowered by Monaco Asset Management SAM

Monaco Asset Management SAM cut its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 3.5% during the fourth quarter, HoldingsChannel reports. The fund owned 65,000 shares of the company’s stock after selling 2,325 shares during the quarter. QuidelOrtho comprises approximately 0.4% of Monaco Asset Management SAM’s holdings, making the stock its 25th biggest position. Monaco Asset Management SAM’s holdings in QuidelOrtho were worth $2,896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in shares of QuidelOrtho during the 3rd quarter worth $34,320,000. Rubric Capital Management LP boosted its stake in shares of QuidelOrtho by 15.2% during the 3rd quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock worth $191,520,000 after acquiring an additional 554,410 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of QuidelOrtho during the 3rd quarter worth about $19,565,000. Beaconlight Capital LLC acquired a new position in shares of QuidelOrtho during the 3rd quarter valued at about $18,152,000. Finally, State Street Corp raised its stake in shares of QuidelOrtho by 16.9% in the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after acquiring an additional 275,522 shares in the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QDEL. StockNews.com cut 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 report on Thursday, February 13th. Jefferies Financial Group assumed coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 target price for the company. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada cut their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, QuidelOrtho currently has a consensus rating of “Hold” and a consensus target price of $51.20.

QuidelOrtho Stock Down 3.4 %

QDEL stock opened at $35.60 on Friday. The business’s 50-day simple moving average is $42.10 and its 200 day simple moving average is $42.02. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.40 billion, a PE ratio of -1.18 and a beta of 0.10. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data 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%. On average, research analysts anticipate 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.