Goldman Sachs Group Inc. Decreases Stake in QuidelOrtho Co. (NASDAQ:QDEL)

Goldman Sachs Group Inc. lessened its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 18.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 255,629 shares of the company’s stock after selling 57,873 shares during the period. Goldman Sachs Group Inc. owned about 0.38% of QuidelOrtho worth $18,840,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Citigroup Inc. increased its holdings in QuidelOrtho by 25.0% in the third quarter. Citigroup Inc. now owns 5,808 shares of the company’s stock valued at $424,000 after buying an additional 1,161 shares during the last quarter. Mariner LLC increased its stake in QuidelOrtho by 10.3% in the third quarter. Mariner LLC now owns 8,505 shares of the company’s stock valued at $621,000 after purchasing an additional 797 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in QuidelOrtho during the third quarter worth approximately $10,956,000. Rubric Capital Management LP purchased a new stake in shares of QuidelOrtho during the 3rd quarter worth approximately $21,651,000. Finally, Comerica Bank acquired a new position in shares of QuidelOrtho in the 3rd quarter valued at $5,156,000. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

Shares of NASDAQ:QDEL opened at $33.76 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.55. QuidelOrtho Co. has a one year low of $32.47 and a one year high of $89.11. The company has a 50-day simple moving average of $40.67 and a 200-day simple moving average of $52.19. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -1.28 and a beta of 0.13.

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

Insider Activity at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 127,981 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $36.19, for a total transaction of $4,631,632.39. Following the completion of the transaction, the insider now owns 12,123,705 shares in the company, valued at approximately $438,756,883.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 432,806 shares of company stock worth $15,679,205 in the last three months. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group reissued a “sell” rating and issued a $42.00 price target (down from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Royal Bank of Canada reduced their target price on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Two equities research 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.com, QuidelOrtho currently has a consensus rating of “Hold” and a consensus target price 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.