Barclays PLC Sells 41,945 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Barclays PLC reduced its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 59.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,257 shares of the company's stock after selling 41,945 shares during the quarter. Barclays PLC's holdings in QuidelOrtho were worth $1,289,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in QuidelOrtho in the 3rd quarter valued at $25,000. Quest Partners LLC boosted its holdings in QuidelOrtho by 17,095.0% in the 2nd quarter. Quest Partners LLC now owns 3,439 shares of the company's stock worth $114,000 after acquiring an additional 3,419 shares during the period. GAMMA Investing LLC grew its position in QuidelOrtho by 73.6% in the third quarter. GAMMA Investing LLC now owns 3,086 shares of the company's stock valued at $141,000 after acquiring an additional 1,308 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of QuidelOrtho by 148.4% during 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 period. Finally, International Assets Investment Management LLC boosted its stake in shares of QuidelOrtho by 4,460.0% in the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the company's stock valued at $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.

QuidelOrtho Trading Down 1.8 %

QuidelOrtho stock opened at $44.94 on Monday. QuidelOrtho Co. has a 52-week low of $29.74 and a 52-week high of $74.04. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -1.61 and a beta of 0.08. The firm has a 50-day moving average price of $41.89 and a two-hundred day moving average price of $40.86.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The company had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same period in the prior year, the business posted $0.90 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts expect that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QDEL. Citigroup raised shares of QuidelOrtho from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. UBS Group started coverage on QuidelOrtho in a research report on Thursday, September 19th. They issued a "neutral" rating and a $50.00 target price for the company. William Blair reissued a "market perform" rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, QuidelOrtho currently has a consensus rating of "Hold" and a consensus price target of $53.43.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, CEO Brian J. Blaser bought 6,033 shares of QuidelOrtho stock in a transaction on 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 completion of the purchase, the chief executive officer now directly owns 6,033 shares of the company's stock, valued at $249,886.86. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total value of $291,667,061.73. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

QuidelOrtho 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.