Blair William & Co. IL Lowers Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Blair William & Co. IL reduced its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,765 shares of the company’s stock after selling 3,453 shares during the period. Blair William & Co. IL owned approximately 0.07% of QuidelOrtho worth $1,554,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in QuidelOrtho by 907.3% in the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after buying an additional 744 shares in the last quarter. GAMMA Investing LLC grew its position in QuidelOrtho by 1,871.8% in the first quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock worth $67,000 after acquiring an additional 1,329 shares in the last quarter. Headlands Technologies LLC bought a new position in QuidelOrtho in the first quarter valued at $86,000. EMC Capital Management purchased a new stake in QuidelOrtho during the first quarter valued at about $117,000. Finally, CWM LLC lifted its stake in QuidelOrtho by 1,536.0% during the first quarter. CWM LLC now owns 2,814 shares of the company’s stock worth $135,000 after purchasing an additional 2,642 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Analysts Set New Price Targets

QDEL has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of QuidelOrtho in a report on Friday, August 16th. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. Finally, UBS Group started coverage on shares of QuidelOrtho in a research note on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.83.

Insider Buying and Selling at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 214,732 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $38.97, for a total value of $8,368,106.04. Following the completion of the transaction, the insider now owns 10,113,040 shares in the company, valued at approximately $394,105,168.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 1,828,753 shares of company stock valued at $67,021,255. 1.00% of the stock is currently owned by corporate insiders.

QuidelOrtho Trading Down 1.5 %

QDEL opened at $44.74 on Tuesday. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -1.70 and a beta of 0.08. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $75.86. The business has a 50 day simple moving average of $41.92 and a two-hundred day simple moving average of $41.23. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results 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. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $613.51 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. Analysts predict that QuidelOrtho Co. will post 1.77 EPS for the current year.

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.