Vanguard Group Inc. Has $224.89 Million Stock Position in QuidelOrtho Corporation $QDEL

Vanguard Group Inc. reduced its holdings in QuidelOrtho Corporation (NASDAQ:QDEL) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,636,193 shares of the company’s stock after selling 160,269 shares during the period. Vanguard Group Inc. owned approximately 11.25% of QuidelOrtho worth $224,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QDEL. State Street Corp raised its holdings in QuidelOrtho by 23.3% in the second quarter. State Street Corp now owns 2,700,940 shares of the company’s stock worth $77,841,000 after purchasing an additional 510,291 shares during the period. American Century Companies Inc. raised its position in shares of QuidelOrtho by 20.6% during the second quarter. American Century Companies Inc. now owns 1,915,648 shares of the company’s stock worth $55,209,000 after purchasing an additional 327,003 shares during the period. Geode Capital Management LLC lifted its holdings in shares of QuidelOrtho by 46.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,678,670 shares of the company’s stock valued at $48,385,000 after purchasing an additional 529,770 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in shares of QuidelOrtho by 0.9% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 1,300,196 shares of the company’s stock valued at $37,472,000 after purchasing an additional 11,478 shares during the period. Finally, Paradigm Capital Management Inc. NY increased its stake in QuidelOrtho by 59.0% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 746,290 shares of the company’s stock worth $21,508,000 after purchasing an additional 276,790 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Up 0.2%

QDEL opened at $22.74 on Monday. The stock has a fifty day moving average of $28.40 and a 200-day moving average of $27.66. The company has a market capitalization of $1.55 billion, a P/E ratio of -1.36 and a beta of 0.75. QuidelOrtho Corporation has a fifty-two week low of $19.50 and a fifty-two week high of $41.40. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.90 and a current ratio of 1.50.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.80 million. QuidelOrtho had a negative net margin of 41.46% and a positive return on equity of 5.91%. QuidelOrtho’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. On average, equities analysts expect that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Insider Activity at QuidelOrtho

In related news, CEO Brian J. Blaser purchased 10,540 shares of QuidelOrtho stock in a transaction that occurred on Friday, February 13th. The shares were acquired at an average price of $23.59 per share, with a total value of $248,638.60. Following the completion of the transaction, the chief executive officer directly owned 40,073 shares of the company’s stock, valued at $945,322.07. This represents a 35.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph M. Busky acquired 3,370 shares of the company’s stock in a transaction on Friday, February 13th. The stock was bought at an average cost of $23.66 per share, with a total value of $79,734.20. Following the completion of the acquisition, the chief financial officer directly owned 10,290 shares in the company, valued at approximately $243,461.40. This represents a 48.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 24,660 shares of company stock worth $589,175. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup increased their target price on QuidelOrtho from $23.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research report on Thursday, January 22nd. UBS Group set a $30.00 price target on shares of QuidelOrtho in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. lowered their target price on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, November 7th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $31.50.

QuidelOrtho Profile

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.