QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by EMC Capital Management

EMC Capital Management trimmed its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 88.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,441 shares of the company’s stock after selling 18,321 shares during the quarter. EMC Capital Management’s holdings in QuidelOrtho were worth $109,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in QDEL. Cerity Partners LLC purchased a new stake in shares of QuidelOrtho in the 3rd quarter valued at approximately $605,000. Leeward Investments LLC MA grew its stake in shares of QuidelOrtho by 17.1% during the third quarter. Leeward Investments LLC MA now owns 229,847 shares of the company’s stock worth $10,481,000 after purchasing an additional 33,588 shares in the last quarter. State Street Corp increased its holdings in QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after buying an additional 275,522 shares during the last quarter. FMR LLC raised its stake in QuidelOrtho by 28.0% in the third quarter. FMR LLC now owns 1,256,356 shares of the company’s stock valued at $57,290,000 after buying an additional 274,633 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of QuidelOrtho during the 4th quarter worth about $301,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QDEL shares. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group started coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.43.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is available through this link. Also, CEO Brian J. Blaser bought 6,033 shares of QuidelOrtho stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price 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 in the company, valued at approximately $249,886.86. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

QuidelOrtho Stock Down 0.8 %

Shares of QDEL opened at $43.16 on Friday. The company’s 50 day simple moving average is $42.86 and its 200-day simple moving average is $41.87. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $70.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data 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 negative net margin of 66.25% and a positive return on equity of 4.24%. The company had revenue of $727.00 million for the quarter, compared to analyst estimates of $642.16 million. During the same period in the previous year, the business posted $0.90 earnings per share. QuidelOrtho’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

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.