Oak Thistle LLC Acquires New Stake in QuidelOrtho Co. (NASDAQ:QDEL)

Oak Thistle LLC acquired a new stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,752 shares of the company's stock, valued at approximately $301,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in QuidelOrtho by 9.1% in the 2nd quarter. Victory Capital Management Inc. now owns 21,737 shares of the company's stock worth $722,000 after purchasing an additional 1,822 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in QuidelOrtho by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company's stock worth $1,446,000 after buying an additional 257 shares during the last quarter. American Century Companies Inc. raised its position in QuidelOrtho by 5.2% during the second quarter. American Century Companies Inc. now owns 378,271 shares of the company's stock valued at $12,566,000 after acquiring an additional 18,799 shares in the last quarter. Federated Hermes Inc. lifted its stake in QuidelOrtho by 148.4% in the second quarter. Federated Hermes Inc. now owns 6,018 shares of the company's stock valued at $200,000 after acquiring an additional 3,595 shares during the last quarter. Finally, Edgestream Partners L.P. grew its position in QuidelOrtho by 204.6% in the second quarter. Edgestream Partners L.P. now owns 58,404 shares of the company's stock worth $1,940,000 after acquiring an additional 39,229 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup raised QuidelOrtho from a "neutral" rating to a "buy" rating and upped their target price for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. William Blair reaffirmed a "market perform" rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Finally, Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $53.43.

QuidelOrtho Stock Down 0.3 %

Shares of NASDAQ QDEL traded down $0.13 during midday trading on Friday, reaching $41.76. The company's stock had a trading volume of 560,471 shares, compared to its average volume of 727,721. The stock has a 50 day simple moving average of $42.06 and a 200-day simple moving average of $41.06. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -1.50 and a beta of 0.08. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $73.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.55. The company had revenue of $727.00 million during the quarter, compared to analysts' expectations of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. QuidelOrtho's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. Equities research analysts predict that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

Insider Transactions at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total transaction of $291,667,061.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian J. Blaser purchased 6,033 shares of QuidelOrtho stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $41.42 per share, for a total transaction of $249,886.86. Following the transaction, the chief executive officer now directly owns 6,033 shares of the company's stock, valued at $249,886.86. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate 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.