Ortho Clinical Diagnostics Holdings plc (NASDAQ:OCDX) Sees Significant Increase in Short Interest

Ortho Clinical Diagnostics Holdings plc (NASDAQ:OCDX) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 4,220,000 shares, a growth of 101.9% from the December 15th total of 2,090,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 3.6% of the shares of the company are short sold.

A number of large investors have recently modified their holdings of OCDX. Macquarie Group Ltd. acquired a new stake in shares of Ortho Clinical Diagnostics in the second quarter valued at approximately $31,408,000. Morgan Stanley raised its position in Ortho Clinical Diagnostics by 4.4% in the second quarter. Morgan Stanley now owns 263,734 shares of the company’s stock worth $5,647,000 after acquiring an additional 11,216 shares in the last quarter. Fiera Capital Corp raised its position in Ortho Clinical Diagnostics by 21.0% in the second quarter. Fiera Capital Corp now owns 497,419 shares of the company’s stock worth $10,650,000 after acquiring an additional 86,412 shares in the last quarter. Vanguard Group Inc. raised its position in Ortho Clinical Diagnostics by 3.1% in the second quarter. Vanguard Group Inc. now owns 7,832,221 shares of the company’s stock worth $167,687,000 after acquiring an additional 232,353 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Ortho Clinical Diagnostics by 10.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 622,581 shares of the company’s stock valued at $13,330,000 after buying an additional 60,989 shares in the last quarter.

A number of analysts have recently commented on OCDX shares. Citigroup began coverage on Ortho Clinical Diagnostics in a research note on Monday, October 4th. They issued a “buy” rating and a $27.00 price objective on the stock. Zacks Investment Research downgraded Ortho Clinical Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 10th. HC Wainwright cut Ortho Clinical Diagnostics from a “buy” rating to a “neutral” rating and set a $24.68 target price for the company. in a report on Monday, December 27th. Finally, Barclays lowered Ortho Clinical Diagnostics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $29.00 to $25.00 in a research report on Friday, December 24th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Ortho Clinical Diagnostics has a consensus rating of “Buy” and an average target price of $25.06.

NASDAQ OCDX opened at $19.06 on Friday. Ortho Clinical Diagnostics has a one year low of $15.14 and a one year high of $22.99. The company has a market capitalization of $4.24 billion and a price-to-earnings ratio of -38.12. The company has a debt-to-equity ratio of 5.56, a quick ratio of 1.30 and a current ratio of 1.94. The company’s 50-day simple moving average is $19.91 and its two-hundred day simple moving average is $20.07.

Ortho Clinical Diagnostics (NASDAQ:OCDX) last posted its earnings results on Wednesday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. Ortho Clinical Diagnostics had a negative net margin of 4.18% and a positive return on equity of 40.10%. The firm had revenue of $522.50 million during the quarter, compared to analyst estimates of $485.36 million. Equities analysts expect that Ortho Clinical Diagnostics will post 0.68 earnings per share for the current fiscal year.

Ortho Clinical Diagnostics Company Profile

Ortho Clinical Diagnostics Holdings plc engages in the vitro diagnostics business worldwide. The company offers automated instruments; and assays, reagents, and other consumables that are used by these instruments to generate test results. Its solutions include clinical chemistry and immunoassay instruments and tests to detect and monitor disease progression across a spectrum of therapeutic areas, including COVID-19 antibody and antigen tests; and immunohematology instruments and tests for blood typing to ensure patient-donor compatibility in blood transfusions, as well as donor screening instruments and tests for blood and plasma screening for infectious diseases.

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