QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 205,215 shares of the company’s stock after selling 2,470 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.31% of QuidelOrtho worth $9,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of QuidelOrtho during the 3rd quarter worth approximately $25,000. Blue Trust Inc. boosted its position in shares of QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after purchasing an additional 844 shares during the period. Spire Wealth Management purchased a new position in shares of QuidelOrtho during the 4th quarter worth approximately $74,000. KBC Group NV boosted its position in shares of QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock worth $153,000 after purchasing an additional 1,895 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of QuidelOrtho by 4,460.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock worth $208,000 after purchasing an additional 4,460 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on QDEL. Jefferies Financial Group began coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective for the company. Royal Bank of Canada lowered their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. StockNews.com cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Finally, UBS Group raised their price target on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.20.

QuidelOrtho Price Performance

QuidelOrtho stock opened at $41.49 on Wednesday. The stock has a market cap of $2.79 billion, a P/E ratio of -1.49 and a beta of 0.08. The company has a fifty day simple moving average of $43.41 and a 200-day simple moving average of $42.38. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $49.56. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. Equities analysts expect that QuidelOrtho Co. will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of QuidelOrtho 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 filing with the SEC, which is available at this hyperlink. Also, CEO Brian J. Blaser bought 6,033 shares of the stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $41.42 per share, for a total transaction of $249,886.86. Following the acquisition, the chief executive officer now owns 6,033 shares of the company’s stock, valued at approximately $249,886.86. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

QuidelOrtho Company 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.