QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 21.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,795 shares of the company's stock after selling 20,366 shares during the period. Wedge Capital Management L L P NC owned 0.11% of QuidelOrtho worth $3,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Susquehanna Fundamental Investments LLC acquired a new stake in QuidelOrtho in the 1st quarter valued at about $1,178,000. Vanguard Group Inc. increased its holdings in shares of QuidelOrtho by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 4,841,410 shares of the company's stock valued at $356,812,000 after purchasing an additional 44,770 shares during the last quarter. Seven Eight Capital LP purchased a new position in QuidelOrtho during the first quarter worth approximately $2,388,000. Edgestream Partners L.P. acquired a new position in QuidelOrtho during the first quarter worth $919,000. Finally, Hsbc Holdings PLC grew its holdings in QuidelOrtho by 316.2% in the 2nd quarter. Hsbc Holdings PLC now owns 28,916 shares of the company's stock valued at $962,000 after buying an additional 21,968 shares in the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 78,180 shares of the business's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $39.94, for a total value of $3,122,509.20. Following the sale, the insider now owns 8,441,022 shares in the company, valued at approximately $337,134,418.68. 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 hyperlink. Insiders sold a total of 1,208,321 shares of company stock worth $47,059,086 over the last ninety days. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Craig Hallum upgraded QuidelOrtho from a "hold" rating to a "buy" rating and lifted their price target for the stock from $40.00 to $57.00 in a report on Thursday, September 5th. UBS Group began coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They issued a "neutral" rating and a $50.00 target price on the stock. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price target on shares of QuidelOrtho in a research note 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.83.

QuidelOrtho Trading Down 0.5 %

NASDAQ QDEL traded down $0.22 during trading hours on Wednesday, reaching $39.98. The company had a trading volume of 953,954 shares, compared to its average volume of 1,003,603. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $2.68 billion, a P/E ratio of -1.52 and a beta of 0.09. The stock has a 50-day moving average of $43.62 and a 200 day moving average of $40.74. 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 issued its quarterly earnings data 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 negative net margin of 65.60% and a positive return on equity of 3.87%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $613.51 million. During the same period in the prior year, the business posted $0.26 EPS. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts anticipate that QuidelOrtho Co. will post 1.77 earnings per share 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.