Cwm LLC Buys 2,642 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Cwm LLC raised its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 1,536.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,814 shares of the company’s stock after acquiring an additional 2,642 shares during the period. Cwm LLC’s holdings in QuidelOrtho were worth $135,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cetera Trust Company N.A bought a new stake in shares of QuidelOrtho during the 4th quarter worth $108,000. Bfsg LLC bought a new stake in shares of QuidelOrtho during the 4th quarter worth $146,000. Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of QuidelOrtho during the 4th quarter worth $227,000. Perigon Wealth Management LLC bought a new stake in shares of QuidelOrtho during the 4th quarter worth $232,000. Finally, Isthmus Partners LLC bought a new stake in shares of QuidelOrtho during the 4th quarter worth $270,000. 99.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Carlyle Group Inc. sold 64,263 shares of QuidelOrtho stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $40.23, for a total transaction of $2,585,300.49. Following the completion of the sale, the insider now owns 12,395,920 shares in the company, valued at approximately $498,687,861.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 291,886 shares of company stock worth $10,803,048 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

QuidelOrtho Stock Up 1.1 %

Shares of QDEL opened at $35.21 on Monday. The business’s 50-day moving average price is $41.07 and its 200-day moving average price is $52.78. The company has a current ratio of 1.55, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. QuidelOrtho Co. has a twelve month low of $34.28 and a twelve month high of $89.11.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). The firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $697.33 million. QuidelOrtho had a negative net margin of 61.65% and a positive return on equity of 3.96%. On average, analysts predict that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. UBS Group reiterated a “sell” rating and issued a $42.00 target price (down previously from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.00.

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.