Quest Partners LLC Grows Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Quest Partners LLC lifted its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 17,095.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,439 shares of the company’s stock after buying an additional 3,419 shares during the quarter. Quest Partners LLC’s holdings in QuidelOrtho were worth $114,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of QDEL. Fifth Third Bancorp raised its holdings in QuidelOrtho by 907.3% in the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock valued at $27,000 after acquiring an additional 744 shares during the last quarter. GAMMA Investing LLC lifted its position in QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after buying an additional 378 shares during the period. Headlands Technologies LLC acquired a new stake in QuidelOrtho in the 1st quarter worth about $86,000. Innealta Capital LLC acquired a new stake in QuidelOrtho in the 2nd quarter worth about $102,000. Finally, EMC Capital Management purchased a new stake in QuidelOrtho in the first quarter valued at approximately $117,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 78,180 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were 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 directly 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 Securities & Exchange Commission, which is available through this link. Insiders sold 1,969,673 shares of company stock worth $71,897,412 in the last quarter. 1.00% of the stock is owned by company insiders.

QuidelOrtho Trading Up 1.1 %

QuidelOrtho stock opened at $45.99 on Tuesday. The firm has a 50 day simple moving average of $40.46 and a 200-day simple moving average of $41.17. 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 capitalization of $3.09 billion, a PE ratio of -1.74 and a beta of 0.08. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $76.43.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.15. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $613.51 million. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. As a group, equities research analysts expect that QuidelOrtho Co. will post 1.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on QDEL shares. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, QuidelOrtho has an average rating of “Hold” and a consensus target price of $57.50.

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.