LSV Asset Management Purchases 39,279 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

LSV Asset Management raised its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 776,674 shares of the company’s stock after purchasing an additional 39,279 shares during the period. LSV Asset Management owned approximately 1.16% of QuidelOrtho worth $57,241,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in QDEL. Senvest Management LLC raised its holdings in shares of QuidelOrtho by 7.6% during the 3rd quarter. Senvest Management LLC now owns 3,330,278 shares of the company’s stock worth $243,244,000 after buying an additional 235,000 shares in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of QuidelOrtho by 69.1% in the third quarter. Burgundy Asset Management Ltd. now owns 1,350,032 shares of the company’s stock worth $98,606,000 after acquiring an additional 551,524 shares during the last quarter. LGT Capital Partners LTD. boosted its stake in shares of QuidelOrtho by 69.9% in the 4th quarter. LGT Capital Partners LTD. now owns 954,466 shares of the company’s stock valued at $70,344,000 after purchasing an additional 392,790 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of QuidelOrtho by 11.2% in the 3rd quarter. Wellington Management Group LLP now owns 760,632 shares of the company’s stock valued at $55,557,000 after purchasing an additional 76,866 shares in the last quarter. Finally, Stonepine Capital Management LLC grew its holdings in shares of QuidelOrtho by 6.4% during the 3rd quarter. Stonepine Capital Management LLC now owns 658,794 shares of the company’s stock valued at $48,118,000 after purchasing an additional 39,368 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Insider Activity at QuidelOrtho

In related news, CFO Joseph M. Busky bought 2,150 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $46.35 per share, with a total value of $99,652.50. Following the purchase, the chief financial officer now owns 2,150 shares of the company’s stock, valued at approximately $99,652.50. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Craig Hallum reiterated a “hold” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. UBS Group restated a “sell” rating and set a $42.00 target price (down previously from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Raymond James reiterated an “outperform” rating and issued a $76.00 target price (down from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. cut QuidelOrtho from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $66.00 to $37.00 in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, QuidelOrtho presently has a consensus rating of “Hold” and a consensus target price of $61.60.

QuidelOrtho Stock Performance

Shares of QDEL traded up $0.28 during mid-day trading on Friday, reaching $42.50. The company’s stock had a trading volume of 902,037 shares, compared to its average volume of 863,019. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. QuidelOrtho Co. has a 52 week low of $37.78 and a 52 week high of $94.86. The company’s fifty day moving average price is $44.01 and its two-hundred day moving average price is $58.64.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.84). The firm had revenue of $742.60 million during the quarter, compared to the consensus estimate of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.74 EPS. On average, equities research analysts expect that QuidelOrtho Co. will post 2.23 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.