QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its position in QuidelOrtho Co. (NASDAQ:QDEL) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 732,800 shares of the company’s stock after selling 2,367 shares during the period. Charles Schwab Investment Management Inc.’s holdings in QuidelOrtho were worth $33,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of QuidelOrtho in the 3rd quarter valued at $25,000. Fifth Third Bancorp increased its position in shares of 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 period. GAMMA Investing LLC increased its position in shares of QuidelOrtho by 27.0% in 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 period. Innealta Capital LLC acquired a new position in shares of QuidelOrtho in the 2nd quarter valued at $102,000. Finally, Quest Partners LLC increased its position in shares of QuidelOrtho by 17,095.0% in the 2nd quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock valued at $114,000 after acquiring an additional 3,419 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on QDEL shares. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of QuidelOrtho in a research report on Friday, August 16th. UBS Group assumed coverage on QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target on the stock. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Finally, Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.83.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $40.06 on Wednesday. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $75.86. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $2.69 billion, a PE ratio of -1.44 and a beta of 0.11. The stock’s 50-day moving average price is $40.70 and its 200-day moving average price is $40.17.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The firm had revenue of $727.00 million for the quarter, compared to analysts’ expectations of $642.16 million. During the same period last year, the firm earned $0.90 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts expect that QuidelOrtho Co. will post 1.73 EPS for the current fiscal year.

About QuidelOrtho

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.