QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its holdings in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 24.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,491 shares of the company's stock after selling 30,489 shares during the period. Sei Investments Co. owned about 0.14% of QuidelOrtho worth $3,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in QuidelOrtho in the 2nd quarter valued at $217,000. XTX Topco Ltd acquired a new stake in shares of QuidelOrtho in the second quarter valued at about $569,000. Hsbc Holdings PLC increased its stake in shares of QuidelOrtho by 316.2% during the second quarter. Hsbc Holdings PLC now owns 28,916 shares of the company's stock worth $962,000 after purchasing an additional 21,968 shares in the last quarter. Edgestream Partners L.P. raised its position in shares of QuidelOrtho by 204.6% during the 2nd quarter. Edgestream Partners L.P. now owns 58,404 shares of the company's stock worth $1,940,000 after purchasing an additional 39,229 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of QuidelOrtho during the 2nd quarter worth about $4,669,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $61.00 price objective on shares of QuidelOrtho in a research note on Friday, August 16th. Craig Hallum upgraded QuidelOrtho from a "hold" rating to a "buy" rating and boosted their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Finally, UBS Group started coverage on QuidelOrtho in a report on Thursday, September 19th. They issued a "neutral" rating and a $50.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $58.83.

QuidelOrtho Price Performance

Shares of NASDAQ:QDEL traded up $0.32 during midday trading on Friday, hitting $43.77. The company had a trading volume of 427,839 shares, compared to its average volume of 1,018,926. The business's 50-day simple moving average is $43.33 and its 200-day simple moving average is $41.16. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -1.66 and a beta of 0.09. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79. 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 quarterly earnings results on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, topping 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 business had revenue of $637.00 million for the quarter, compared to analyst estimates of $613.51 million. During the same quarter in the previous year, the firm earned $0.26 EPS. The company's quarterly revenue was down 4.2% compared to the same quarter last year. On average, research analysts predict that QuidelOrtho Co. will post 1.77 earnings per share for the current year.

Insider Buying and Selling at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 169,467 shares of QuidelOrtho stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $42.10, for a total transaction of $7,134,560.70. Following the sale, the insider now owns 8,724,346 shares of the company's stock, valued at approximately $367,294,966.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,512,761 shares of company stock worth $56,845,787 in the last ninety days. 1.00% of the stock is owned by insiders.

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.