Integral Health Asset Management LLC Invests $4.98 Million in QuidelOrtho Co. (NASDAQ:QDEL)

Integral Health Asset Management LLC bought a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 150,000 shares of the company's stock, valued at approximately $4,983,000. Integral Health Asset Management LLC owned about 0.22% of QuidelOrtho as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QDEL. Fifth Third Bancorp increased its holdings in shares of QuidelOrtho by 907.3% in the second quarter. Fifth Third Bancorp now owns 826 shares of the company's stock valued at $27,000 after purchasing an additional 744 shares in the last quarter. GAMMA Investing LLC raised 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 last quarter. Headlands Technologies LLC acquired a new position in shares of QuidelOrtho during the first quarter valued at $86,000. Innealta Capital LLC bought a new position in QuidelOrtho in the second quarter valued at about $102,000. Finally, Quest Partners LLC increased its position in QuidelOrtho by 17,095.0% in the second quarter. Quest Partners LLC now owns 3,439 shares of the company's stock worth $114,000 after purchasing an additional 3,419 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 24,390 shares of the business's stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $30.09, for a total value of $733,895.10. Following the sale, the insider now directly owns 11,141,580 shares of the company's stock, valued at approximately $335,250,142.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,828,753 shares of company stock valued at $67,021,255 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QDEL. Craig Hallum upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating and upped their target price for the company from $40.00 to $57.00 in a research report on Thursday, September 5th. Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price target on shares of QuidelOrtho in a research note on Friday, August 16th. Finally, UBS Group began coverage on shares of QuidelOrtho in a research note on Thursday. They issued a "neutral" rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $58.83.

QuidelOrtho Trading Down 1.5 %

Shares of NASDAQ:QDEL traded down $0.66 during mid-day trading on Monday, reaching $44.74. The stock had a trading volume of 650,067 shares, compared to its average volume of 1,045,198. The firm has a market cap of $3.00 billion, a PE ratio of -1.70 and a beta of 0.08. The firm has a 50 day simple moving average of $41.92 and a two-hundred day simple moving average of $41.23. 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 twelve month low of $29.74 and a twelve month high of $75.86.

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

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.