BNP PARIBAS ASSET MANAGEMENT Holding S.A. Makes New Investment in QuidelOrtho Co. (NASDAQ:QDEL)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,800 shares of the company’s stock, valued at approximately $259,000.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of QuidelOrtho by 7,410.5% during the fourth quarter. International Assets Investment Management LLC now owns 7,886 shares of the company’s stock valued at $581,000 after buying an additional 7,781 shares during the last quarter. Victory Capital Management Inc. raised its stake in QuidelOrtho by 23.5% during the 4th quarter. Victory Capital Management Inc. now owns 21,645 shares of the company’s stock valued at $1,595,000 after acquiring an additional 4,120 shares in the last quarter. New York Life Investment Management LLC boosted its position in QuidelOrtho by 6.9% during the 4th quarter. New York Life Investment Management LLC now owns 5,509 shares of the company’s stock worth $406,000 after acquiring an additional 355 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of QuidelOrtho by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 575,473 shares of the company’s stock worth $42,412,000 after purchasing an additional 17,963 shares in the last quarter. Finally, Seizert Capital Partners LLC increased its holdings in shares of QuidelOrtho by 3.5% during the fourth quarter. Seizert Capital Partners LLC now owns 21,081 shares of the company’s stock valued at $1,554,000 after purchasing an additional 709 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Carlyle Group Inc. sold 78,180 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $39.94, for a total transaction of $3,122,509.20. Following the completion of the sale, the insider now owns 8,441,022 shares in the company, valued at approximately $337,134,418.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 2,261,559 shares of company stock worth $82,700,460. 1.00% of the stock is owned by insiders.

QuidelOrtho Trading Down 3.0 %

Shares of QDEL stock opened at $40.99 on Wednesday. The stock has a 50-day simple moving average of $38.23 and a 200 day simple moving average of $41.28. The stock has a market capitalization of $2.75 billion, a P/E ratio of -1.55 and a beta of 0.07. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $83.37. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.70.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.15. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $613.51 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts expect that QuidelOrtho Co. will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a research note on Friday, August 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $57.60.

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.