Captrust Financial Advisors Takes Position in QuidelOrtho Co. (NASDAQ:QDEL)

Captrust Financial Advisors purchased a new stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,217 shares of the company’s stock, valued at approximately $238,000.

Several other large investors have also made changes to their positions in QDEL. SG Americas Securities LLC lifted its stake in shares of QuidelOrtho by 20.3% during the second quarter. SG Americas Securities LLC now owns 8,334 shares of the company’s stock valued at $277,000 after acquiring an additional 1,404 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of QuidelOrtho by 9.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,840 shares of the company’s stock valued at $227,000 after acquiring an additional 572 shares during the period. Fifth Third Bancorp lifted its stake in shares of QuidelOrtho by 907.3% during the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock valued at $27,000 after acquiring an additional 744 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of QuidelOrtho by 9.8% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 593,157 shares of the company’s stock valued at $19,705,000 after acquiring an additional 52,729 shares during the period. Finally, Skylands Capital LLC lifted its stake in shares of QuidelOrtho by 4.6% during the second quarter. Skylands Capital LLC now owns 139,400 shares of the company’s stock valued at $4,631,000 after acquiring an additional 6,100 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian J. Blaser purchased 6,033 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $41.42 per share, for a total transaction of $249,886.86. Following the completion of the purchase, the chief executive officer now directly owns 6,033 shares in the company, valued at $249,886.86. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QDEL. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Jefferies Financial Group began coverage on QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price on the stock. Craig Hallum raised 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. Finally, UBS Group began coverage on QuidelOrtho in a research note on Thursday, September 19th. They issued a “neutral” rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, QuidelOrtho presently has a consensus rating of “Hold” and a consensus price target of $53.43.

QuidelOrtho Stock Down 0.6 %

Shares of QuidelOrtho stock opened at $41.35 on Monday. QuidelOrtho Co. has a 1 year low of $29.74 and a 1 year high of $75.86. The business has a 50-day moving average of $39.99 and a two-hundred day moving average of $40.04. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results 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. The company had revenue of $727.00 million during the quarter, compared to the consensus estimate of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. Analysts anticipate that QuidelOrtho Co. will post 1.73 EPS for the current year.

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.