John G Ullman & Associates Inc. Sells 28,550 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

John G Ullman & Associates Inc. decreased its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 71.1% in the fourth quarter, HoldingsChannel reports. The firm owned 11,600 shares of the company’s stock after selling 28,550 shares during the quarter. John G Ullman & Associates Inc.’s holdings in QuidelOrtho were worth $855,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pinnacle Associates Ltd. grew its holdings in shares of QuidelOrtho by 167.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 85,375 shares of the company’s stock worth $6,292,000 after acquiring an additional 53,446 shares during the period. Wellington Management Group LLP grew its holdings in shares of QuidelOrtho by 11.2% during the 3rd quarter. Wellington Management Group LLP now owns 760,632 shares of the company’s stock worth $55,557,000 after acquiring an additional 76,866 shares during the period. Comerica Bank purchased a new position in shares of QuidelOrtho during the 3rd quarter worth approximately $5,156,000. Citigroup Inc. grew its holdings in shares of QuidelOrtho by 25.0% during the 3rd quarter. Citigroup Inc. now owns 5,808 shares of the company’s stock worth $424,000 after acquiring an additional 1,161 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of QuidelOrtho by 11.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 25,559 shares of the company’s stock worth $1,884,000 after acquiring an additional 2,727 shares during the period. Institutional investors own 99.00% of the company’s stock.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky acquired 2,150 shares of the stock in a transaction dated Friday, February 23rd. The shares were acquired at an average cost of $46.35 per share, for a total transaction of $99,652.50. Following the completion of the transaction, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at $99,652.50. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

QuidelOrtho Stock Up 2.2 %

QuidelOrtho stock opened at $39.12 on Friday. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -244.50 and a beta of 0.11. The stock has a fifty day simple moving average of $45.90 and a two-hundred day simple moving average of $60.80. QuidelOrtho Co. has a 12 month low of $37.78 and a 12 month high of $95.02. 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 (NASDAQ:QDEL) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The business’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the business earned $1.74 earnings per share. Equities analysts predict that QuidelOrtho Co. will post 2.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group restated a “sell” rating and issued a $42.00 price target (down previously from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. JPMorgan Chase & Co. downgraded 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 research note on Wednesday, February 14th. Royal Bank of Canada cut their price target on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Finally, William Blair restated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.60.

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.