Susquehanna Fundamental Investments LLC Makes New $2.32 Million Investment in QuidelOrtho Co. (NASDAQ:QDEL)

Susquehanna Fundamental Investments LLC acquired a new stake in QuidelOrtho Co. (NASDAQ:QDEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 52,074 shares of the company’s stock, valued at approximately $2,320,000.

Several other hedge funds and other institutional investors have also made changes to their positions in QDEL. Principal Financial Group Inc. raised its position in QuidelOrtho by 64.5% during the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock worth $12,405,000 after acquiring an additional 106,642 shares in the last quarter. Moody National Bank Trust Division increased its stake in shares of QuidelOrtho by 126.5% during the 4th quarter. Moody National Bank Trust Division now owns 37,868 shares of the company’s stock worth $1,687,000 after purchasing an additional 21,147 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in QuidelOrtho in the 4th quarter valued at about $433,000. Oak Thistle LLC acquired a new stake in QuidelOrtho in the 4th quarter valued at about $301,000. Finally, Merit Financial Group LLC bought a new position in QuidelOrtho during the fourth quarter worth about $301,000. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Trading Down 1.3 %

Shares of QuidelOrtho stock opened at $28.58 on Wednesday. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45. The stock has a market cap of $1.93 billion, a PE ratio of -0.94 and a beta of 0.43. The firm has a 50-day moving average of $33.11 and a 200-day moving average of $38.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data 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, sell-side analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on QDEL. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Royal Bank of Canada dropped their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. UBS Group lifted their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, QuidelOrtho presently has a consensus rating of “Hold” and an average price target of $46.83.

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.