Captrust Financial Advisors Takes $238,000 Position in QuidelOrtho Co. (NASDAQ:QDEL)

Captrust Financial Advisors acquired a new stake in QuidelOrtho Co. (NASDAQ:QDEL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,217 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in QuidelOrtho during the 3rd quarter worth approximately $25,000. 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 in the last quarter. Innealta Capital LLC acquired a new position in QuidelOrtho in the 2nd quarter valued at $102,000. Quest Partners LLC raised its holdings in 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in QuidelOrtho by 73.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,086 shares of the company’s stock valued at $141,000 after acquiring an additional 1,308 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. Jefferies Financial Group started coverage on QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price target on the stock. UBS Group started coverage on QuidelOrtho in a research note on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target on the stock. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Finally, Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.00 to $57.00 in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $53.43.

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $41.35 on Monday. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month 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’s fifty day simple moving average is $39.99 and its 200 day simple moving average is $40.04.

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

Insiders Place Their Bets

In other QuidelOrtho news, CEO Brian J. Blaser acquired 6,033 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $41.42 per share, with a total value of $249,886.86. Following the purchase, the chief executive officer now directly owns 6,033 shares of the company’s stock, valued at $249,886.86. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business’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 disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.