XTX Topco Ltd Makes New $569,000 Investment in QuidelOrtho Co. (NASDAQ:QDEL)

XTX Topco Ltd purchased a new position in QuidelOrtho Co. (NASDAQ:QDEL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,136 shares of the company’s stock, valued at approximately $569,000.

Other large investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in shares of QuidelOrtho in the 1st quarter worth $1,178,000. Norges Bank bought a new position in shares of QuidelOrtho in the 4th quarter worth $41,968,000. Vanguard Group Inc. raised its position in shares of QuidelOrtho by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 4,841,410 shares of the company’s stock worth $356,812,000 after acquiring an additional 44,770 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in QuidelOrtho during the 4th quarter valued at about $3,691,000. Finally, Seven Eight Capital LP acquired a new position in QuidelOrtho during the 1st quarter valued at about $2,388,000. 99.00% of the stock is owned by institutional investors.

Insider Transactions at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 81,482 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $33.19, for a total value of $2,704,387.58. Following the sale, the insider now owns 11,617,068 shares in the company, valued at $385,570,486.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,828,753 shares of company stock worth $67,021,255 over the last quarter. 1.00% of the stock is currently owned by insiders.

QuidelOrtho Stock Down 1.5 %

QuidelOrtho stock opened at $44.74 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.79 and a current ratio of 1.44. The business’s 50-day simple moving average is $41.92 and its two-hundred day simple moving average is $41.23. The company has a market cap of $3.00 billion, a PE ratio of -1.70 and a beta of 0.08. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $75.86.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. UBS Group assumed coverage on QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a research report on Friday, August 16th. Finally, Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $57.00 in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, QuidelOrtho presently has an average rating of “Hold” and a consensus price target of $58.83.

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.