WINTON GROUP Ltd Acquires Shares of 140,546 QuidelOrtho Co. (NASDAQ:QDEL)

WINTON GROUP Ltd bought a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 140,546 shares of the company’s stock, valued at approximately $4,669,000. WINTON GROUP Ltd owned approximately 0.21% of QuidelOrtho at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thompson Siegel & Walmsley LLC acquired a new position in QuidelOrtho in the 2nd quarter worth $8,896,000. Federated Hermes Inc. boosted its holdings in QuidelOrtho by 148.4% in the second quarter. Federated Hermes Inc. now owns 6,018 shares of the company’s stock valued at $200,000 after purchasing an additional 3,595 shares during the last quarter. American Century Companies Inc. grew its stake in QuidelOrtho by 5.2% during the 2nd quarter. American Century Companies Inc. now owns 378,271 shares of the company’s stock valued at $12,566,000 after purchasing an additional 18,799 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of QuidelOrtho by 578.9% during the 2nd quarter. Headlands Technologies LLC now owns 12,172 shares of the company’s stock valued at $404,000 after buying an additional 10,379 shares during the last quarter. Finally, Monaco Asset Management SAM acquired a new stake in shares of QuidelOrtho during the second quarter worth approximately $1,038,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QDEL has been the subject of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of QuidelOrtho in a report on Friday, August 16th. Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $57.00 in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $57.50.

Insider Buying and Selling

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 214,732 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $38.97, for a total value of $8,368,106.04. Following the completion of the transaction, the insider now owns 10,113,040 shares in the company, valued at approximately $394,105,168.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 2,069,315 shares of company stock valued at $75,483,527 in the last quarter. Company insiders own 1.00% of the company’s stock.

QuidelOrtho Stock Performance

Shares of NASDAQ QDEL opened at $45.47 on Friday. The stock has a market capitalization of $3.06 billion, a P/E ratio of -1.72 and a beta of 0.08. The firm’s 50-day moving average price is $40.14 and its two-hundred day moving average price is $41.19. QuidelOrtho Co. has a 52-week low of $29.74 and a 52-week high of $77.44. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.70.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly 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. QuidelOrtho had a positive return on equity of 3.87% and a negative net margin of 65.60%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $613.51 million. During the same quarter last year, the business posted $0.26 EPS. The business’s revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that QuidelOrtho Co. will post 1.77 earnings per share for the current 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.