Parkman Healthcare Partners LLC Takes Position in QuidelOrtho Co. (NASDAQ:QDEL)

Parkman Healthcare Partners LLC acquired a new stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 75,000 shares of the company's stock, valued at approximately $3,420,000. Parkman Healthcare Partners LLC owned about 0.11% of QuidelOrtho as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of QuidelOrtho during the 3rd quarter valued at $25,000. Fifth Third Bancorp grew its position in shares of QuidelOrtho by 907.3% during the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company's stock valued at $27,000 after acquiring an additional 744 shares during the period. GAMMA Investing LLC increased 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 purchasing an additional 378 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of QuidelOrtho in the 2nd quarter worth approximately $102,000. Finally, Quest Partners LLC lifted its stake in QuidelOrtho by 17,095.0% in the second quarter. Quest Partners LLC now owns 3,439 shares of the company's stock valued at $114,000 after purchasing an additional 3,419 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company's stock.

Insiders Place Their Bets

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QDEL. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price objective on shares of QuidelOrtho in a report on Friday, August 16th. Craig Hallum raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and boosted their price target for the company from $40.00 to $57.00 in a research report on Thursday, September 5th. UBS Group began coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They set a "neutral" rating and a $50.00 target price on the stock. Finally, William Blair restated a "market perform" rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, QuidelOrtho currently has a consensus rating of "Hold" and a consensus price target of $58.83.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL traded down $0.22 during trading hours on Wednesday, reaching $39.84. 650,255 shares of the stock traded hands, compared to its average volume of 991,918. The company has a market capitalization of $2.68 billion, a P/E ratio of -1.44 and a beta of 0.11. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. QuidelOrtho Co. has a 52-week low of $29.74 and a 52-week high of $75.86. The company's 50-day simple moving average is $40.70 and its two-hundred day simple moving average is $40.17.

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