XTX Topco Ltd Buys Shares of 17,136 QuidelOrtho Co. (NASDAQ:QDEL)

XTX Topco Ltd bought a new stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,136 shares of the company’s stock, valued at approximately $569,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of QuidelOrtho by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock valued at $233,906,000 after acquiring an additional 37,733 shares during the last quarter. Rubric Capital Management LP raised its holdings in shares of QuidelOrtho by 230.6% during the fourth quarter. Rubric Capital Management LP now owns 980,063 shares of the company’s stock valued at $72,231,000 after acquiring an additional 683,637 shares during the last quarter. Private Management Group Inc. raised its holdings in shares of QuidelOrtho by 33.4% during the second quarter. Private Management Group Inc. now owns 610,621 shares of the company’s stock valued at $20,285,000 after acquiring an additional 152,769 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its holdings in shares of QuidelOrtho by 9.8% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 593,157 shares of the company’s stock valued at $19,705,000 after acquiring an additional 52,729 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of QuidelOrtho during the fourth quarter valued at approximately $41,968,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Carlyle Group Inc. sold 78,180 shares of the firm’s 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 transaction, the insider now directly owns 8,441,022 shares in the company, valued at $337,134,418.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 1,828,753 shares of company stock valued at $67,021,255 over the last quarter. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group assumed coverage on QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target for the company. Craig Hallum raised 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 report on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, QuidelOrtho currently has an average rating of “Hold” and an average target price of $58.83.

QuidelOrtho Price Performance

QDEL stock opened at $44.74 on Tuesday. The business has a fifty day moving average of $41.92 and a two-hundred day moving average of $41.23. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -1.70 and a beta of 0.08. QuidelOrtho Co. has a 52-week low of $29.74 and a 52-week high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.15. The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $613.51 million. QuidelOrtho had a positive return on equity of 3.87% and a negative net margin of 65.60%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, research analysts anticipate that QuidelOrtho Co. will post 1.77 earnings per share 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.