Segall Bryant & Hamill LLC Makes New $19.57 Million Investment in QuidelOrtho Co. (NASDAQ:QDEL)

Segall Bryant & Hamill LLC bought a new stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 429,057 shares of the company's stock, valued at approximately $19,565,000. Segall Bryant & Hamill LLC owned approximately 0.64% of QuidelOrtho at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Texas Permanent School Fund Corp lifted its position in shares of QuidelOrtho by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company's stock worth $1,446,000 after acquiring an additional 257 shares during the period. Balanced Rock Investment Advisors LLC boosted its holdings in shares of QuidelOrtho by 5.1% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 6,784 shares of the company's stock worth $225,000 after acquiring an additional 329 shares in the last quarter. GAMMA Investing LLC grew its position in 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 acquiring an additional 378 shares during the last quarter. Algert Global LLC increased its holdings in QuidelOrtho by 1.0% during the 2nd quarter. Algert Global LLC now owns 46,846 shares of the company's stock valued at $1,556,000 after purchasing an additional 450 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its position in QuidelOrtho by 2.9% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 18,588 shares of the company's stock valued at $848,000 after purchasing an additional 530 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL traded up $0.41 during mid-day trading on Thursday, reaching $37.89. The company had a trading volume of 1,219,286 shares, compared to its average volume of 982,538. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $75.86. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -1.34 and a beta of 0.12. 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 business's 50-day simple moving average is $41.62 and its 200 day simple moving average is $40.37.

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, topping the consensus estimate of $0.30 by $0.55. The business 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 for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. On average, research analysts predict that QuidelOrtho Co. will post 1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on QDEL. 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 report on Thursday, September 5th. William Blair reaffirmed a "market perform" rating on shares of QuidelOrtho in a report on Wednesday. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price target on shares of QuidelOrtho in a research note on Friday, August 16th. Finally, UBS Group assumed coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They set a "neutral" rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $58.83.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

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.