ExodusPoint Capital Management LP Lowers Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

ExodusPoint Capital Management LP lessened its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 78.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 104,793 shares of the company’s stock after selling 372,959 shares during the quarter. ExodusPoint Capital Management LP’s holdings in QuidelOrtho were worth $4,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of QuidelOrtho by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company’s stock valued at $303,716,000 after buying an additional 764,900 shares during the period. State Street Corp lifted its holdings in QuidelOrtho by 16.9% in the third 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 during the period. JPMorgan Chase & Co. boosted its position in shares of QuidelOrtho by 14.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company’s stock worth $62,666,000 after purchasing an additional 173,174 shares in the last quarter. American Century Companies Inc. grew its stake in shares of QuidelOrtho by 72.6% during the 4th quarter. American Century Companies Inc. now owns 1,115,551 shares of the company’s stock worth $49,698,000 after purchasing an additional 469,132 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of QuidelOrtho by 17.7% in the 4th quarter. Geode Capital Management LLC now owns 1,083,461 shares of the company’s stock valued at $48,285,000 after purchasing an additional 162,758 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective on the stock. Royal Bank of Canada lowered their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. UBS Group lifted their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Finally, 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 note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, QuidelOrtho currently has a consensus rating of “Hold” and an average target price of $51.20.

QuidelOrtho Stock Down 13.4 %

Shares of NASDAQ:QDEL opened at $28.13 on Monday. 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 capitalization of $1.90 billion, a P/E ratio of -0.93 and a beta of 0.43. QuidelOrtho Co. has a 52-week low of $26.84 and a 52-week high of $49.45. The stock’s fifty day simple moving average is $39.06 and its 200-day simple moving average is $40.94.

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

QuidelOrtho 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.