QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Barclays PLC

Barclays PLC trimmed its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 59.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,257 shares of the company’s stock after selling 41,945 shares during the quarter. Barclays PLC’s holdings in QuidelOrtho were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in QDEL. Cerity Partners LLC acquired a new position in QuidelOrtho in the 3rd quarter valued at approximately $605,000. Leeward Investments LLC MA boosted its stake in shares of QuidelOrtho by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 229,847 shares of the company’s stock worth $10,481,000 after acquiring an additional 33,588 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of QuidelOrtho by 316.2% in the second quarter. Hsbc Holdings PLC now owns 28,916 shares of the company’s stock worth $962,000 after buying an additional 21,968 shares during the last quarter. FMR LLC lifted its position in shares of QuidelOrtho by 28.0% during the 3rd quarter. FMR LLC now owns 1,256,356 shares of the company’s stock worth $57,290,000 after purchasing an additional 274,633 shares during the last quarter. Finally, State Street Corp boosted its position in shares of QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after acquiring an additional 275,522 shares during the period. 99.00% of the stock is currently owned by institutional investors.

Insider Activity

In other QuidelOrtho 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 acquisition, the chief executive officer now owns 6,033 shares in the company, valued at approximately $249,886.86. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm’s 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 disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $44.25 on Friday. The stock’s 50 day moving average price is $40.53 and its two-hundred day moving average price is $40.11. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -1.59 and a beta of 0.11. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $75.82.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The company had revenue of $727.00 million for the quarter, compared to analysts’ expectations of $642.16 million. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts anticipate that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and boosted their price target for the company from $40.00 to $57.00 in a research note on Thursday, September 5th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. Jefferies Financial Group began coverage on QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective for the company. Finally, UBS Group initiated coverage on shares of QuidelOrtho in a research report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.43.

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.