QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Barclays PLC

Barclays PLC lessened its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 59.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,257 shares of the company's stock after selling 41,945 shares during the period. Barclays PLC's holdings in QuidelOrtho were worth $1,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of QDEL. Cerity Partners LLC acquired a new position in QuidelOrtho in the third quarter valued at approximately $605,000. Leeward Investments LLC MA raised its position in QuidelOrtho by 17.1% in the third quarter. Leeward Investments LLC MA now owns 229,847 shares of the company's stock valued at $10,481,000 after purchasing an additional 33,588 shares during the period. Hsbc Holdings PLC lifted its stake in shares of 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 purchasing an additional 21,968 shares during the last quarter. FMR LLC grew its holdings in shares of QuidelOrtho by 28.0% during the 3rd quarter. FMR LLC now owns 1,256,356 shares of the company's stock worth $57,290,000 after purchasing an additional 274,633 shares during the period. Finally, State Street Corp increased its position in shares of QuidelOrtho by 16.9% during the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company's stock worth $87,000,000 after purchasing an additional 275,522 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on QDEL. William Blair reaffirmed a "market perform" rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. UBS Group initiated coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They issued a "neutral" rating and a $50.00 price objective on the stock. Craig Hallum raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and increased their price objective for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Citigroup raised QuidelOrtho from a "neutral" rating to a "buy" rating and boosted their target price for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group assumed coverage on QuidelOrtho in a research report on Tuesday, December 10th. They set a "hold" rating and a $43.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, QuidelOrtho presently has an average rating of "Hold" and a consensus price target of $53.43.

QuidelOrtho Stock Down 0.8 %

Shares of NASDAQ:QDEL traded down $0.35 during trading on Friday, hitting $44.25. The company's stock had a trading volume of 452,483 shares, compared to its average volume of 989,601. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $75.82. The business has a 50 day moving average price of $40.53 and a two-hundred day moving average price of $40.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The company has a market capitalization of $2.98 billion, a PE ratio of -1.59 and a beta of 0.11.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its 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 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. As a group, research analysts expect that QuidelOrtho Co. will post 1.73 EPS for the current fiscal year.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, CEO Brian J. Blaser bought 6,033 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now owns 6,033 shares of the company's stock, valued at approximately $249,886.86. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the company'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 value of $291,667,061.73. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

About QuidelOrtho

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.