WINTON GROUP Ltd Invests $4.67 Million in QuidelOrtho Co. (NASDAQ:QDEL)

WINTON GROUP Ltd purchased a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 140,546 shares of the company's stock, valued at approximately $4,669,000. WINTON GROUP Ltd owned approximately 0.21% of QuidelOrtho as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in QDEL. Fifth Third Bancorp lifted its stake in QuidelOrtho by 907.3% during the second quarter. Fifth Third Bancorp now owns 826 shares of the company's stock worth $27,000 after purchasing an additional 744 shares in the last quarter. GAMMA Investing LLC increased its position in shares of QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company's stock worth $59,000 after acquiring an additional 378 shares during the period. Headlands Technologies LLC purchased a new stake in shares of QuidelOrtho during the first quarter worth $86,000. Innealta Capital LLC purchased a new stake in shares of QuidelOrtho during the second quarter worth $102,000. Finally, Quest Partners LLC increased its position in shares of QuidelOrtho by 17,095.0% during the second 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. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Stock Up 1.5 %

NASDAQ:QDEL traded up $0.67 during trading hours on Friday, hitting $45.47. The company's stock had a trading volume of 599,145 shares, compared to its average volume of 1,044,623. The stock has a market capitalization of $3.06 billion, a P/E ratio of -1.72 and a beta of 0.08. The stock has a fifty day moving average of $40.14 and a 200-day moving average of $41.19. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70. QuidelOrtho Co. has a 52-week low of $29.74 and a 52-week high of $77.44.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.15. QuidelOrtho had a positive return on equity of 3.87% and a negative net margin of 65.60%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $613.51 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. QuidelOrtho's revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that QuidelOrtho Co. will post 1.77 earnings per share for the current year.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 67,207 shares of the company's stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $34.89, for a total value of $2,344,852.23. Following the completion of the transaction, the insider now owns 11,908,315 shares in the company, valued at $415,481,110.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 2,069,315 shares of company stock worth $75,483,527 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

QDEL has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 price objective on shares of QuidelOrtho in a research report on Friday, August 16th. Craig Hallum raised QuidelOrtho from a "hold" rating to a "buy" rating and upped their price objective for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Two investment analysts have 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $57.50.

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.