Tejara Capital Ltd Reduces Position in QuidelOrtho Co. (NASDAQ:QDEL)

Tejara Capital Ltd decreased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,170 shares of the company’s stock after selling 4,850 shares during the period. QuidelOrtho accounts for 1.4% of Tejara Capital Ltd’s investment portfolio, making the stock its 22nd biggest position. Tejara Capital Ltd owned approximately 0.07% of QuidelOrtho worth $2,146,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. increased its position in QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after buying an additional 844 shares in the last quarter. Spire Wealth Management purchased a new position in QuidelOrtho during the fourth quarter worth $74,000. KBC Group NV increased its position in QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock worth $153,000 after buying an additional 1,895 shares in the last quarter. Captrust Financial Advisors purchased a new position in QuidelOrtho during the third quarter worth $238,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of QuidelOrtho in the third quarter valued at $262,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Jefferies Financial Group assumed coverage on QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective for the company. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. UBS Group lifted their price objective on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada lowered their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.20.

QuidelOrtho Price Performance

QDEL stock opened at $36.20 on Tuesday. The stock has a 50-day moving average price of $41.66 and a two-hundred day moving average price of $41.88. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $49.45. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.44 billion, a PE ratio of -1.20 and a beta of 0.10.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly 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, research analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current 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.