GAMMA Investing LLC Has $67,000 Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

GAMMA Investing LLC raised its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 1,871.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,400 shares of the company’s stock after purchasing an additional 1,329 shares during the quarter. GAMMA Investing LLC’s holdings in QuidelOrtho were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of QDEL. Cetera Trust Company N.A acquired a new stake in QuidelOrtho in the 4th quarter valued at $108,000. CWM LLC boosted its stake in shares of QuidelOrtho by 1,536.0% in the 1st quarter. CWM LLC now owns 2,814 shares of the company’s stock valued at $135,000 after purchasing an additional 2,642 shares in the last quarter. Bfsg LLC bought a new stake in shares of QuidelOrtho in the 4th quarter worth about $146,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in shares of QuidelOrtho during the 4th quarter worth about $227,000. Finally, Perigon Wealth Management LLC bought a new position in QuidelOrtho during the 4th quarter valued at about $232,000. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Price Performance

Shares of QDEL stock opened at $35.21 on Monday. QuidelOrtho Co. has a 1 year low of $34.28 and a 1 year high of $89.11. The company has a current ratio of 1.55, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $41.07 and its 200-day moving average is $52.78.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $697.33 million. QuidelOrtho had a negative net margin of 61.65% and a positive return on equity of 3.96%. As a group, research analysts expect that QuidelOrtho Co. will post 1.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group reaffirmed a “sell” rating and set a $42.00 price objective (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Royal Bank of Canada decreased their price target on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, QuidelOrtho currently has an average rating of “Hold” and a consensus target price of $59.00.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 99,642 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $35.99, for a total transaction of $3,586,115.58. Following the transaction, the insider now directly owns 12,024,063 shares in the company, valued at approximately $432,746,027.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 291,886 shares of company stock worth $10,803,048 over the last 90 days. Insiders own 1.00% of the company’s stock.

QuidelOrtho Company 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.