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Bridgewater Associates LP Sells 18,159 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

QuidelOrtho logo with Medical background

Bridgewater Associates LP decreased its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 45.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,948 shares of the company's stock after selling 18,159 shares during the period. Bridgewater Associates LP's holdings in QuidelOrtho were worth $1,001,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QDEL. FMR LLC lifted its position in QuidelOrtho by 28.0% in the third quarter. FMR LLC now owns 1,256,356 shares of the company's stock worth $57,290,000 after purchasing an additional 274,633 shares during the period. Cerity Partners LLC acquired a new position in shares of QuidelOrtho in the 3rd quarter valued at $605,000. Segall Bryant & Hamill LLC acquired a new position in shares of QuidelOrtho in the 3rd quarter valued at $19,565,000. Phocas Financial Corp. acquired a new stake in shares of QuidelOrtho during the 3rd quarter valued at about $3,592,000. Finally, Quest Partners LLC increased its stake in QuidelOrtho by 89.6% in the third quarter. Quest Partners LLC now owns 6,522 shares of the company's stock valued at $297,000 after acquiring an additional 3,083 shares during the period. Institutional investors own 99.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QDEL. Craig Hallum upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating and raised their price target for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. William Blair restated a "market perform" rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. UBS Group started coverage on QuidelOrtho in a research report on Thursday, September 19th. They issued a "neutral" rating and a $50.00 price target on the stock. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price objective on shares of QuidelOrtho in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $58.83.

View Our Latest Research Report on QuidelOrtho

Insider Transactions at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

QuidelOrtho Price Performance

QDEL stock traded down $0.05 during midday trading on Monday, reaching $40.95. 841,979 shares of the company's stock traded hands, compared to its average volume of 994,675. 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 company has a market cap of $2.75 billion, a price-to-earnings ratio of -1.47 and a beta of 0.12. The company has a 50-day simple moving average of $40.88 and a two-hundred day simple moving average of $40.21. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $75.86.

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

QuidelOrtho Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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