QuidelOrtho Co. (NASDAQ:QDEL) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,737 shares of the company’s stock after acquiring an additional 1,822 shares during the quarter. Victory Capital Management Inc.’s holdings in QuidelOrtho were worth $722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in QDEL. Fifth Third Bancorp lifted its stake in 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 purchasing an additional 744 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of QuidelOrtho by 27.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after acquiring an additional 378 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of QuidelOrtho during the 1st quarter worth $86,000. Innealta Capital LLC acquired a new position in shares of QuidelOrtho in the 2nd quarter worth $102,000. Finally, EMC Capital Management acquired a new stake in shares of QuidelOrtho during the first quarter worth $117,000. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Trading Down 1.8 %

NASDAQ:QDEL opened at $45.40 on Friday. The stock’s 50-day moving average is $41.66 and its two-hundred day moving average is $41.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79. The stock has a market cap of $3.04 billion, a PE ratio of -1.72 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 released its quarterly earnings data 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. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $613.51 million. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. As a group, equities research analysts forecast that QuidelOrtho Co. will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QDEL. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and increased their price target for the company from $40.00 to $57.00 in a research report on Thursday, September 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of QuidelOrtho in a report on Friday, August 16th. Finally, UBS Group began coverage on shares of QuidelOrtho in a report on Thursday. They set a “neutral” rating and a $50.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.83.

Insider Transactions at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 78,180 shares of QuidelOrtho stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $39.94, for a total transaction of $3,122,509.20. Following the completion of the sale, the insider now owns 8,441,022 shares of the company’s stock, valued at $337,134,418.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 1,902,466 shares of company stock valued at $69,552,560. 1.00% of the stock is owned by 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.