Barclays PLC Sells 41,945 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

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

A number of other large investors have also recently modified their holdings of QDEL. Cerity Partners LLC bought a new stake in QuidelOrtho during the third quarter worth about $605,000. Leeward Investments LLC MA boosted its stake in QuidelOrtho by 17.1% during the third 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 boosted its stake in QuidelOrtho by 316.2% during the second quarter. Hsbc Holdings PLC now owns 28,916 shares of the company’s stock worth $962,000 after acquiring an additional 21,968 shares in the last quarter. State Street Corp boosted its stake in QuidelOrtho by 16.9% during the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after acquiring an additional 275,522 shares in the last quarter. Finally, FMR LLC boosted its stake in QuidelOrtho by 28.0% during the third quarter. FMR LLC now owns 1,256,356 shares of the company’s stock worth $57,290,000 after acquiring an additional 274,633 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Down 0.6 %

QDEL opened at $45.75 on Monday. 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 50 day moving average price of $41.89 and a 200-day moving average price of $40.86. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $74.04. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -1.64 and a beta of 0.08.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, beating 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 firm had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $642.16 million. During the same period in the previous year, the company earned $0.90 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on QDEL. UBS Group began coverage on shares of QuidelOrtho in a research note on Thursday, September 19th. They set a “neutral” rating and a $50.00 price objective on the stock. Jefferies Financial Group started coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price on the stock. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. Finally, William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.43.

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 shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian J. Blaser acquired 6,033 shares of QuidelOrtho stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $41.42 per share, with a total value of $249,886.86. Following the completion of the purchase, the chief executive officer now owns 6,033 shares of the company’s stock, valued at approximately $249,886.86. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

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.