Signaturefd LLC Has $113,000 Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Signaturefd LLC decreased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 16.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,531 shares of the company’s stock after selling 305 shares during the period. Signaturefd LLC’s holdings in QuidelOrtho were worth $113,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Senvest Management LLC lifted its position in shares of QuidelOrtho by 7.6% during the third quarter. Senvest Management LLC now owns 3,330,278 shares of the company’s stock worth $243,244,000 after purchasing an additional 235,000 shares in the last quarter. Burgundy Asset Management Ltd. increased its position in 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 purchasing an additional 551,524 shares during the period. LGT Capital Partners LTD. lifted its position in QuidelOrtho by 69.9% during 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 during the period. 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 during the last quarter. Finally, LSV Asset Management grew its position in shares of QuidelOrtho by 217.4% during the 3rd quarter. LSV Asset Management now owns 737,395 shares of the company’s stock worth $53,859,000 after buying an additional 505,050 shares during the period. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

Shares of QDEL opened at $39.36 on Tuesday. The firm’s 50 day moving average price is $44.50 and its two-hundred day moving average price is $59.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 1.57. QuidelOrtho Co. has a twelve month low of $37.78 and a twelve month high of $95.02. The firm has a market cap of $2.63 billion, a P/E ratio of -246.00 and a beta of 0.11.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). The firm had revenue of $742.60 million for 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%. QuidelOrtho’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter last year, the company posted $1.74 EPS. On average, analysts forecast that QuidelOrtho Co. will post 2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuidelOrtho news, CFO Joseph M. Busky acquired 2,150 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were acquired at an average price of $46.35 per share, with a total value of $99,652.50. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on QDEL shares. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Craig Hallum reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Royal Bank of Canada cut their target price on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. UBS Group restated a “sell” rating and set a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Finally, Raymond James reissued an “outperform” rating and set a $76.00 price objective (down previously from $100.00) on shares of QuidelOrtho in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, QuidelOrtho presently has an average rating of “Hold” and a consensus price target of $61.60.

About QuidelOrtho

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.