Fmr LLC Increases Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

FMR LLC raised its stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 28.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,256,356 shares of the company's stock after buying an additional 274,633 shares during the period. FMR LLC owned about 1.87% of QuidelOrtho worth $57,290,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of QuidelOrtho by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,854 shares of the company's stock worth $1,911,000 after buying an additional 1,648 shares during the period. GAMMA Investing LLC raised its position in shares of QuidelOrtho by 27.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company's stock worth $59,000 after acquiring an additional 378 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of QuidelOrtho by 20.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,334 shares of the company's stock valued at $277,000 after purchasing an additional 1,404 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of QuidelOrtho by 9.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,840 shares of the company's stock valued at $227,000 after purchasing an additional 572 shares during the period. Finally, Hunter Perkins Capital Management LLC boosted its position in shares of QuidelOrtho by 23.7% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 18,058 shares of the company's stock valued at $600,000 after purchasing an additional 3,455 shares in the last quarter. Institutional investors own 99.00% of the company's stock.

Wall Street Analyst Weigh In

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

QuidelOrtho Price Performance

QDEL stock traded up $0.60 during midday trading on Friday, reaching $38.20. 606,146 shares of the company's stock traded hands, compared to its average volume of 1,237,088. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The firm's fifty day moving average price is $40.35 and its 200-day moving average price is $40.12. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $75.86.

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

Insider Activity

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

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.