Cwm LLC Raises Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Cwm LLC increased its position in QuidelOrtho Co. (NASDAQ:QDEL) by 540.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,865 shares of the company’s stock after buying an additional 9,168 shares during the period. Cwm LLC’s holdings in QuidelOrtho were worth $495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of QuidelOrtho by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,841,410 shares of the company’s stock valued at $356,812,000 after acquiring an additional 44,770 shares during the last quarter. GAMMA Investing LLC raised its stake in QuidelOrtho by 1,871.8% during the first quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock valued at $67,000 after purchasing an additional 1,329 shares in the last quarter. Oak Thistle LLC bought a new position in QuidelOrtho during the first quarter valued at $350,000. State of Michigan Retirement System grew its stake in shares of QuidelOrtho by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 12,127 shares of the company’s stock worth $581,000 after buying an additional 300 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of QuidelOrtho by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 186,534 shares of the company’s stock worth $8,942,000 after buying an additional 4,751 shares during the last quarter. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Stock Up 1.9 %

Shares of NASDAQ:QDEL opened at $40.83 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79. The business has a 50 day simple moving average of $43.58 and a two-hundred day simple moving average of $40.68. QuidelOrtho Co. has a 1 year low of $29.74 and a 1 year high of $75.86. The firm has a market capitalization of $2.73 billion, a PE ratio of -1.55 and a beta of 0.09.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results 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 period in the prior year, the business earned $0.26 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts predict that QuidelOrtho Co. will post 1.77 EPS for the current year.

Insider Buying and Selling

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 214,732 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $38.97, for a total value of $8,368,106.04. Following the completion of the sale, the insider now directly owns 10,113,040 shares in the company, valued at approximately $394,105,168.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 1,142,685 shares of company stock valued at $44,819,586 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

QDEL has been the subject of a number of analyst reports. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and increased their price target for the company from $40.00 to $57.00 in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research note on Friday, August 16th. Finally, UBS Group began coverage on QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, QuidelOrtho currently has a consensus rating of “Hold” and a consensus price target of $58.83.

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.