Assenagon Asset Management S.A. Purchases Shares of 162,515 QuidelOrtho Co. (NASDAQ:QDEL)

Assenagon Asset Management S.A. acquired a new position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 162,515 shares of the company's stock, valued at approximately $7,411,000. Assenagon Asset Management S.A. owned approximately 0.24% of QuidelOrtho at the end of the most recent quarter.

Several other large investors have also made changes to their positions in QDEL. Fifth Third Bancorp raised its stake in shares of QuidelOrtho by 907.3% during the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company's stock worth $27,000 after buying an additional 744 shares during the period. GAMMA Investing LLC raised its stake in shares of QuidelOrtho by 27.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company's stock worth $59,000 after buying an additional 378 shares during the period. Headlands Technologies LLC acquired a new position in shares of QuidelOrtho during the 1st quarter worth approximately $86,000. Innealta Capital LLC acquired a new position in shares of QuidelOrtho during the 2nd quarter worth approximately $102,000. Finally, Quest Partners LLC raised its stake in shares of QuidelOrtho by 17,095.0% during the 2nd quarter. Quest Partners LLC now owns 3,439 shares of the company's stock worth $114,000 after buying an additional 3,419 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 78,180 shares of the firm's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $39.94, for a total transaction of $3,122,509.20. Following the completion of the transaction, the insider now directly owns 8,441,022 shares in the company, valued at $337,134,418.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 530,696 shares of company stock worth $21,476,013. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

QDEL has been the subject of several recent research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price objective on shares of QuidelOrtho in a research note on Friday, August 16th. Craig Hallum raised QuidelOrtho from a "hold" rating to a "buy" rating and increased their price objective for the company from $40.00 to $57.00 in a research note on Thursday, September 5th. Finally, UBS Group initiated coverage on QuidelOrtho in a research note on Thursday, September 19th. They issued a "neutral" rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $58.83.

QuidelOrtho Trading Down 0.9 %

NASDAQ:QDEL traded down $0.36 during trading hours on Tuesday, hitting $38.37. The company had a trading volume of 417,370 shares, compared to its average volume of 980,579. The company has a market cap of $2.58 billion, a P/E ratio of -1.39 and a beta of 0.09. 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 1 year low of $29.74 and a 1 year high of $75.86. The company has a 50-day moving average of $43.04 and a 200 day moving average of $40.49.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.15. The business 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. Sell-side analysts expect that QuidelOrtho Co. will post 1.72 earnings per share for the current year.

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.