QuidelOrtho Co. (NASDAQ:QDEL) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc raised its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 7.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,393 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Ensign Peak Advisors Inc’s holdings in QuidelOrtho were worth $578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in QuidelOrtho by 907.3% during the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after purchasing an additional 744 shares during the last quarter. GAMMA Investing LLC increased its position in QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after purchasing an additional 378 shares during the last quarter. Headlands Technologies LLC acquired a new position in QuidelOrtho during the first quarter worth approximately $86,000. Innealta Capital LLC acquired a new position in QuidelOrtho during the second quarter worth approximately $102,000. Finally, Quest Partners LLC increased its position 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 purchasing an additional 3,419 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group assumed coverage on shares of QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target for the company. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.83.

QuidelOrtho Price Performance

QDEL opened at $45.55 on Friday. 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 Co. has a 52-week low of $29.74 and a 52-week high of $75.86. The company has a 50 day moving average of $42.75 and a two-hundred day moving average of $41.25. The company has a market cap of $3.06 billion, a P/E ratio of -1.73 and a beta of 0.08.

QuidelOrtho (NASDAQ:QDEL) last released 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 during the quarter, compared to the consensus estimate of $613.51 million. During the same period in the previous year, the firm earned $0.26 earnings per share. QuidelOrtho’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts expect that QuidelOrtho Co. will post 1.77 earnings per share for the current year.

Insider Activity

In other news, major shareholder Carlyle Group Inc. sold 24,390 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $30.09, for a total value of $733,895.10. Following the completion of the transaction, the insider now directly owns 11,141,580 shares in the company, valued at $335,250,142.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 1,697,334 shares of company stock worth $62,666,450. 1.00% of the stock is currently owned by company insiders.

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.