Fmr LLC Purchases 274,633 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Fmr LLC boosted its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 28.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,256,356 shares of the company’s stock after buying an additional 274,633 shares during the period. Fmr LLC owned about 1.87% of QuidelOrtho worth $57,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of QDEL. Price T Rowe Associates Inc. MD boosted its position in shares of QuidelOrtho by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,854 shares of the company’s stock valued at $1,911,000 after acquiring an additional 1,648 shares in the last quarter. GAMMA Investing LLC boosted its holdings in QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after purchasing an additional 378 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of QuidelOrtho by 20.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,334 shares of the company’s stock valued at $277,000 after purchasing an additional 1,404 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of QuidelOrtho by 9.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,840 shares of the company’s stock worth $227,000 after buying an additional 572 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its stake in QuidelOrtho by 23.7% in the 2nd quarter. Hunter Perkins Capital Management LLC now owns 18,058 shares of the company’s stock valued at $600,000 after buying an additional 3,455 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Up 1.6 %

NASDAQ QDEL opened at $38.20 on Friday. The stock has a market capitalization of $2.57 billion, a P/E ratio of -1.37 and a beta of 0.11. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $75.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The stock has a fifty day moving average of $40.35 and a 200-day moving average of $40.12.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.55. The firm had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. On average, equities research analysts forecast that QuidelOrtho Co. will post 1.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group initiated coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price objective for the company. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $57.00 in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research note on Friday, August 16th. Finally, William Blair restated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. One equities research analyst has 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, the stock currently has an average rating of “Hold” and an average target price of $58.83.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.31, for a total value of $291,667,061.73. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.