GAMMA Investing LLC Sells 640 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

GAMMA Investing LLC lessened its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,446 shares of the company’s stock after selling 640 shares during the quarter. GAMMA Investing LLC’s holdings in QuidelOrtho were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp raised its position in QuidelOrtho by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company’s stock valued at $1,446,000 after acquiring an additional 257 shares in the last quarter. Algert Global LLC raised its position in QuidelOrtho by 1.0% during the second quarter. Algert Global LLC now owns 46,846 shares of the company’s stock valued at $1,556,000 after acquiring an additional 450 shares in the last quarter. Hunter Perkins Capital Management LLC raised its position in QuidelOrtho by 2.9% during the third quarter. Hunter Perkins Capital Management LLC now owns 18,588 shares of the company’s stock valued at $848,000 after acquiring an additional 530 shares in the last quarter. Capital Performance Advisors LLP bought a new position in QuidelOrtho during the third quarter valued at approximately $25,000. Finally, Ensign Peak Advisors Inc raised its position in QuidelOrtho by 7.4% during the second quarter. Ensign Peak Advisors Inc now owns 17,393 shares of the company’s stock valued at $578,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

Insider Buying and Selling

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of QuidelOrtho stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total transaction of $291,667,061.73. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian J. Blaser purchased 6,033 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the purchase, the chief executive officer now directly 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 currently owned by insiders.

QuidelOrtho Trading Down 0.6 %

Shares of QDEL stock opened at $45.75 on Friday. QuidelOrtho Co. has a 1 year low of $29.74 and a 1 year high of $74.04. The firm’s fifty day simple moving average is $41.89 and its 200 day simple moving average is $40.75. The firm has a market capitalization of $3.08 billion, a P/E ratio of -1.64 and a beta of 0.08. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $727.00 million for the quarter, compared to analyst estimates of $642.16 million. During the same quarter in the previous year, the firm posted $0.90 earnings per share. QuidelOrtho’s revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that QuidelOrtho Co. will post 1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

QDEL has been the topic of several recent research reports. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price target on the stock. 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 target on the stock. One investment 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 presently has a consensus rating of “Hold” and an average target price 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.