QuidelOrtho Corporation $QDEL Shares Acquired by Aristotle Capital Boston LLC

Aristotle Capital Boston LLC increased its stake in QuidelOrtho Corporation (NASDAQ:QDEL) by 62.4% in the third quarter, HoldingsChannel.com reports. The firm owned 382,389 shares of the company’s stock after acquiring an additional 146,956 shares during the quarter. Aristotle Capital Boston LLC’s holdings in QuidelOrtho were worth $11,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Salomon & Ludwin LLC boosted its holdings in QuidelOrtho by 100.6% during the third quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock worth $30,000 after buying an additional 496 shares in the last quarter. Allworth Financial LP grew its position in QuidelOrtho by 2,460.9% during the second quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock worth $34,000 after buying an additional 1,132 shares during the period. Nisa Investment Advisors LLC increased its holdings in QuidelOrtho by 118.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock valued at $38,000 after buying an additional 693 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in QuidelOrtho in the third quarter valued at about $63,000. Finally, Tableaux LLC acquired a new stake in shares of QuidelOrtho during the 2nd quarter valued at approximately $93,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

Shares of QDEL opened at $17.10 on Friday. QuidelOrtho Corporation has a 12-month low of $17.08 and a 12-month high of $38.99. The stock has a market cap of $1.16 billion, a P/E ratio of -1.03 and a beta of 0.75. The company has a current ratio of 1.50, a quick ratio of 0.90 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average of $26.60 and a two-hundred day moving average of $27.19.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group set a $30.00 price target on QuidelOrtho in a research note on Thursday, February 12th. Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Citigroup lifted their price objective on QuidelOrtho from $23.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Thursday, January 22nd. One equities research 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 company currently has an average rating of “Reduce” and a consensus price target of $31.50.

Insider Activity at QuidelOrtho

In related news, CEO Brian J. Blaser purchased 10,540 shares of the company’s stock in a transaction on Friday, February 13th. The stock was bought 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 owned 40,073 shares of the company’s stock, valued at approximately $945,322.07. This represents a 35.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Strobeck purchased 10,000 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was bought at an average cost of $23.96 per share, with a total value of $239,600.00. Following the completion of the acquisition, the director owned 27,775 shares of the company’s stock, valued at approximately $665,489. The trade was a 56.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 23,910 shares of company stock valued at $567,973. 0.79% of the stock is owned by corporate insiders.

About QuidelOrtho

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.