QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by EMC Capital Management

EMC Capital Management lowered its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 88.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,441 shares of the company's stock after selling 18,321 shares during the quarter. EMC Capital Management's holdings in QuidelOrtho were worth $109,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QDEL. Capital Performance Advisors LLP acquired a new position in QuidelOrtho in the 3rd quarter worth approximately $25,000. Blue Trust Inc. lifted its position in shares of QuidelOrtho by 344.3% during the 4th quarter. Blue Trust Inc. now owns 1,995 shares of the company's stock valued at $91,000 after buying an additional 1,546 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of QuidelOrtho by 73.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,086 shares of the company's stock valued at $141,000 after buying an additional 1,308 shares in the last quarter. KBC Group NV lifted its position in shares of QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after buying an additional 1,895 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in QuidelOrtho by 4,460.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the company's stock valued at $208,000 after purchasing an additional 4,460 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Trading Down 0.0 %

NASDAQ QDEL traded down $0.02 during trading on Tuesday, hitting $42.51. The stock had a trading volume of 344,503 shares, compared to its average volume of 857,305. The company has a market capitalization of $2.86 billion, a PE ratio of -1.52 and a beta of 0.08. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average price of $43.03 and a 200 day moving average price of $42.06. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $69.83.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its earnings results 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 the consensus estimate 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 was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. As a group, equities research analysts forecast that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian J. Blaser acquired 6,033 shares of QuidelOrtho stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $41.42 per share, with a total value of $249,886.86. Following the purchase, the chief executive officer now owns 6,033 shares of the company's stock, valued at $249,886.86. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.