Thrivent Financial for Lutherans Acquires 33,432 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Thrivent Financial for Lutherans boosted its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 279.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,407 shares of the company's stock after buying an additional 33,432 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of QuidelOrtho worth $2,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of QuidelOrtho during the 3rd quarter valued at about $25,000. Fifth Third Bancorp raised its holdings in shares of QuidelOrtho by 907.3% in the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company's stock worth $27,000 after buying an additional 744 shares in the last quarter. GAMMA Investing LLC boosted its stake in QuidelOrtho by 27.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company's stock valued at $59,000 after buying an additional 378 shares in the last quarter. Innealta Capital LLC bought a new stake in QuidelOrtho in the second quarter valued at $102,000. Finally, Quest Partners LLC raised its stake in QuidelOrtho by 17,095.0% during the second quarter. Quest Partners LLC now owns 3,439 shares of the company's stock worth $114,000 after acquiring an additional 3,419 shares in the last quarter. Institutional investors own 99.00% of the company's stock.

Analyst Upgrades and Downgrades

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

QuidelOrtho Price Performance

Shares of QDEL traded down $0.12 during mid-day trading on Friday, hitting $41.00. 320,413 shares of the company traded hands, compared to its average volume of 995,336. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81. The business has a 50-day moving average of $40.97 and a 200 day moving average of $40.28. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $75.86.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.85 EPS 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 analysts' expectations of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.90 EPS. As a group, analysts expect that QuidelOrtho Co. will post 1.73 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business'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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.