QuidelOrtho Co. (NASDAQ:QDEL) Shares Bought by Quest Partners LLC

Quest Partners LLC boosted its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 17,095.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,439 shares of the company’s stock after purchasing an additional 3,419 shares during the quarter. Quest Partners LLC’s holdings in QuidelOrtho were worth $114,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of QuidelOrtho by 7,410.5% in the fourth quarter. International Assets Investment Management LLC now owns 7,886 shares of the company’s stock valued at $581,000 after buying an additional 7,781 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of QuidelOrtho by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 575,473 shares of the company’s stock valued at $42,412,000 after purchasing an additional 17,963 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of QuidelOrtho by 144.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock valued at $66,961,000 after purchasing an additional 536,492 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of QuidelOrtho by 190.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,705 shares of the company’s stock valued at $642,000 after purchasing an additional 5,708 shares during the period. Finally, Norges Bank purchased a new stake in shares of QuidelOrtho during the fourth quarter worth approximately $41,968,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Stock Up 1.1 %

Shares of NASDAQ QDEL opened at $45.99 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $40.46 and a 200 day moving average price of $41.17. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $76.43. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -1.74 and a beta of 0.08.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $613.51 million. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. Equities research analysts anticipate that QuidelOrtho Co. will post 1.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $57.00 in a research note on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.50.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 67,207 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $34.89, for a total value of $2,344,852.23. Following the sale, the insider now directly owns 11,908,315 shares of the company’s stock, valued at approximately $415,481,110.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 1,969,673 shares of company stock worth $71,897,412 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

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.