Victory Capital Management Inc. Has $1.07 Million Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Victory Capital Management Inc. boosted its position in QuidelOrtho Co. (NASDAQ:QDEL) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,404 shares of the company’s stock after buying an additional 1,667 shares during the quarter. Victory Capital Management Inc.’s holdings in QuidelOrtho were worth $1,067,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Rubric Capital Management LP grew its position in shares of QuidelOrtho by 51.9% in the second quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company’s stock valued at $121,106,000 after purchasing an additional 1,245,590 shares during the last quarter. Maverick Capital Ltd. increased its position in QuidelOrtho by 27.5% in the 2nd quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock worth $57,434,000 after buying an additional 372,662 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in shares of QuidelOrtho during the second quarter worth approximately $8,896,000. Assenagon Asset Management S.A. bought a new stake in shares of QuidelOrtho in the third quarter valued at approximately $7,411,000. Finally, Bank of Montreal Can grew its stake in shares of QuidelOrtho by 2,799.8% in the second quarter. Bank of Montreal Can now owns 160,154 shares of the company’s stock worth $5,322,000 after acquiring an additional 154,631 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Insider Buying and Selling at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

QuidelOrtho Trading Down 0.4 %

QDEL stock opened at $40.98 on Wednesday. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $75.86. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $41.18 and its 200-day moving average is $40.26. The firm has a market cap of $2.76 billion, a P/E ratio of -1.47 and a beta of 0.12.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The firm had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same period in the prior year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts anticipate that QuidelOrtho Co. will post 1.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on QDEL shares. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and increased their target price 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 target price on shares of QuidelOrtho in a research report on Friday, August 16th. Finally, UBS Group assumed coverage on QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from 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.