Lord Abbett & CO. LLC Decreases Stock Holdings in Ortho Clinical Diagnostics Holdings plc (NASDAQ:OCDX)

Lord Abbett & CO. LLC decreased its holdings in shares of Ortho Clinical Diagnostics Holdings plc (NASDAQ:OCDX) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,294,119 shares of the company’s stock after selling 41,229 shares during the quarter. Lord Abbett & CO. LLC owned about 0.58% of Ortho Clinical Diagnostics worth $23,916,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC purchased a new stake in shares of Ortho Clinical Diagnostics in the second quarter valued at $58,000. Royal Bank of Canada raised its stake in shares of Ortho Clinical Diagnostics by 12.3% in the second quarter. Royal Bank of Canada now owns 8,290 shares of the company’s stock valued at $178,000 after acquiring an additional 907 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in shares of Ortho Clinical Diagnostics in the second quarter valued at $275,000. Wilbanks Smith & Thomas Asset Management LLC raised its stake in shares of Ortho Clinical Diagnostics by 21.5% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 15,800 shares of the company’s stock valued at $292,000 after acquiring an additional 2,800 shares during the period. Finally, Easterly Investment Partners LLC purchased a new stake in shares of Ortho Clinical Diagnostics in the third quarter valued at $312,000.

OCDX has been the topic of a number of research analyst reports. Barclays cut shares of Ortho Clinical Diagnostics from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $29.00 to $25.00 in a report on Friday, December 24th. Zacks Investment Research cut shares of Ortho Clinical Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, November 10th. Citigroup initiated coverage on shares of Ortho Clinical Diagnostics in a report on Monday, October 4th. They set a “buy” rating and a $27.00 target price on the stock. Finally, HC Wainwright cut shares of Ortho Clinical Diagnostics from a “buy” rating to a “neutral” rating and set a $24.68 target price on the stock. in a report on Monday, December 27th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $25.06.

NASDAQ:OCDX opened at $19.06 on Friday. Ortho Clinical Diagnostics Holdings plc has a fifty-two week low of $15.14 and a fifty-two week high of $22.99. 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 200-day simple moving average is $20.07.

Ortho Clinical Diagnostics (NASDAQ:OCDX) last released its quarterly earnings results on Wednesday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $522.50 million for the quarter, compared to analysts’ expectations of $485.36 million. On average, sell-side analysts predict that Ortho Clinical Diagnostics Holdings plc will post 0.68 earnings per share for the current fiscal year.

Ortho Clinical Diagnostics 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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Institutional Ownership by Quarter for Ortho Clinical Diagnostics (NASDAQ:OCDX)

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