Skylands Capital LLC Reduces Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Skylands Capital LLC decreased its position in QuidelOrtho Co. (NASDAQ:QDEL) by 30.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 84,000 shares of the company’s stock after selling 36,250 shares during the period. Skylands Capital LLC’s holdings in QuidelOrtho were worth $3,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of QuidelOrtho during the third quarter worth $34,320,000. Rubric Capital Management LP lifted its position in shares of QuidelOrtho by 15.2% during the third quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock worth $191,520,000 after acquiring an additional 554,410 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of QuidelOrtho during the third quarter worth $19,565,000. Beaconlight Capital LLC purchased a new stake in shares of QuidelOrtho during the third quarter worth $18,152,000. Finally, State Street Corp lifted its position in shares of QuidelOrtho by 16.9% during the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after acquiring an additional 275,522 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Insider Activity

In related news, CEO Brian J. Blaser acquired 6,033 shares of QuidelOrtho stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of $41.42 per share, with a total value of $249,886.86. Following the completion of the purchase, the chief executive officer now owns 6,033 shares of the company’s stock, valued at $249,886.86. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. UBS Group increased their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Royal Bank of Canada dropped their target price on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group assumed coverage on QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective on the stock. Finally, William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, QuidelOrtho currently has a consensus rating of “Hold” and a consensus target price of $51.20.

QuidelOrtho Stock Down 1.4 %

QDEL opened at $40.46 on Monday. The stock has a market cap of $2.72 billion, a PE ratio of -1.34 and a beta of 0.08. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $49.45. The business’s fifty day simple moving average is $43.45 and its 200 day simple moving average is $42.40.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. As a group, research analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

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.