QuidelOrtho Co. (NASDAQ:QDEL) Holdings Raised by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 522.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,372 shares of the company's stock after purchasing an additional 73,330 shares during the period. SG Americas Securities LLC owned about 0.13% of QuidelOrtho worth $3,892,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of QDEL. Cerity Partners LLC bought a new position in QuidelOrtho during the 3rd quarter worth approximately $605,000. Leeward Investments LLC MA lifted its stake in QuidelOrtho by 17.1% during the third quarter. Leeward Investments LLC MA now owns 229,847 shares of the company's stock worth $10,481,000 after purchasing an additional 33,588 shares during the last quarter. State Street Corp boosted its holdings in QuidelOrtho by 16.9% in the third 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 period. Hsbc Holdings PLC increased its stake in QuidelOrtho by 316.2% during the second 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. Finally, FMR LLC raised its holdings in shares of QuidelOrtho by 28.0% during the third 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. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Price Performance

Shares of QDEL stock traded down $0.09 during mid-day trading on Friday, hitting $44.24. 1,101,999 shares of the stock traded hands, compared to its average volume of 739,341. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $71.57. 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's 50-day simple moving average is $42.44 and its 200-day simple moving average is $41.67. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -1.59 and a beta of 0.08.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued 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. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The firm had revenue of $727.00 million for the quarter, compared to analysts' expectations of $642.16 million. During the same period in the previous year, the business earned $0.90 earnings per share. QuidelOrtho's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts expect that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

QDEL has been the subject of several research reports. William Blair reaffirmed a "market perform" rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Jefferies Financial Group began coverage on QuidelOrtho in a report on Tuesday, December 10th. They set a "hold" rating and a $43.00 target price for the company. Finally, Citigroup raised QuidelOrtho from a "neutral" rating to a "buy" rating and raised their price target for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. One research 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, QuidelOrtho currently has a consensus rating of "Hold" and an average target price of $53.43.

Insider Buying and Selling

In other news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the company's stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian J. Blaser purchased 6,033 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $41.42 per share, for a total transaction of $249,886.86. Following the purchase, the chief executive officer now directly owns 6,033 shares in the company, valued at $249,886.86. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by 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.