Vanguard Group Inc. Raises Stake in QuidelOrtho Co. (NASDAQ:QDEL)

Vanguard Group Inc. lifted its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,841,410 shares of the company’s stock after acquiring an additional 44,770 shares during the period. Vanguard Group Inc. owned 7.24% of QuidelOrtho worth $356,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Trust Company N.A purchased a new stake in QuidelOrtho in the fourth quarter valued at $108,000. Bfsg LLC purchased a new stake in QuidelOrtho in the 4th quarter valued at about $146,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in QuidelOrtho in the fourth quarter valued at about $227,000. Perigon Wealth Management LLC purchased a new position in QuidelOrtho during the fourth quarter worth about $232,000. Finally, Isthmus Partners LLC acquired a new stake in shares of QuidelOrtho during the fourth quarter valued at about $270,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

QDEL has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. UBS Group restated a “sell” rating and set a $42.00 price target (down from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.00.

Insider Buying and Selling

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 81,482 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $33.19, for a total transaction of $2,704,387.58. Following the completion of the transaction, the insider now owns 11,617,068 shares in the company, valued at approximately $385,570,486.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 514,288 shares of company stock worth $18,383,593. Company insiders own 1.00% of the company’s stock.

QuidelOrtho Stock Performance

NASDAQ:QDEL opened at $33.22 on Friday. QuidelOrtho Co. has a 52 week low of $32.47 and a 52 week high of $89.11. The company has a fifty day simple moving average of $40.46 and a two-hundred day simple moving average of $51.83. The company has a quick ratio of 0.81, a current ratio of 1.55 and a debt-to-equity ratio of 0.68. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -1.26 and a beta of 0.13.

QuidelOrtho (NASDAQ:QDEL) last released its 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 company had revenue of $711.00 million for the quarter, compared to analyst estimates of $697.33 million. QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. As a group, equities analysts anticipate that QuidelOrtho Co. will post 1.85 earnings per share for the current fiscal year.

QuidelOrtho Company 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.