QuidelOrtho Co. (NASDAQ:QDEL) Stock Position Reduced by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. decreased its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 71.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,600 shares of the company’s stock after selling 28,550 shares during the quarter. John G Ullman & Associates Inc.’s holdings in QuidelOrtho were worth $855,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Global Retirement Partners LLC raised its stake in shares of QuidelOrtho by 109.0% during the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after purchasing an additional 181 shares in the last quarter. Money Concepts Capital Corp increased its stake in shares of QuidelOrtho by 66.8% during the 4th quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Eagle Bay Advisors LLC raised its holdings in shares of QuidelOrtho by 174.2% during the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock valued at $34,000 after purchasing an additional 223 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of QuidelOrtho by 48.6% in the 1st quarter. First Horizon Advisors Inc. now owns 822 shares of the company’s stock valued at $73,000 after purchasing an additional 269 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in QuidelOrtho during the fourth quarter worth $97,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on QDEL shares. Craig Hallum reiterated a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. UBS Group reiterated a “sell” rating and set a $42.00 price target (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Royal Bank of Canada lowered their price target on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. JPMorgan Chase & Co. downgraded QuidelOrtho from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $66.00 to $37.00 in a report on Wednesday, February 14th. Finally, Raymond James reiterated an “outperform” rating and set a $76.00 price target (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.60.

Insider Buying and Selling at QuidelOrtho

In other news, CFO Joseph M. Busky acquired 2,150 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average cost of $46.35 per share, with a total value of $99,652.50. Following the acquisition, the chief financial officer now directly owns 2,150 shares in the company, valued at approximately $99,652.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

QuidelOrtho Stock Up 2.2 %

Shares of QDEL stock opened at $39.12 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.57 and a quick ratio of 0.88. The stock has a market cap of $2.62 billion, a P/E ratio of -244.50 and a beta of 0.11. QuidelOrtho Co. has a one year low of $37.78 and a one year high of $95.02. The stock has a fifty day moving average price of $45.90 and a 200 day moving average price of $60.80.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The firm had revenue of $742.60 million during the quarter, compared to analyst estimates of $796.91 million. During the same period in the prior year, the company earned $1.74 earnings per share. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. Analysts predict that QuidelOrtho Co. will post 2.28 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.