Bridgewater Associates LP Sells 18,159 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Bridgewater Associates LP decreased its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 45.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,948 shares of the company’s stock after selling 18,159 shares during the period. Bridgewater Associates LP’s holdings in QuidelOrtho were worth $1,001,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Texas Permanent School Fund Corp boosted its stake in shares of QuidelOrtho by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company’s stock worth $1,446,000 after acquiring an additional 257 shares during the period. Balanced Rock Investment Advisors LLC boosted its stake in shares of QuidelOrtho by 5.1% in the second quarter. Balanced Rock Investment Advisors LLC now owns 6,784 shares of the company’s stock worth $225,000 after acquiring an additional 329 shares during the period. GAMMA Investing LLC boosted its stake in shares of QuidelOrtho by 27.0% in the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after acquiring an additional 378 shares during the period. Algert Global LLC boosted its stake in shares of QuidelOrtho by 1.0% in the second quarter. Algert Global LLC now owns 46,846 shares of the company’s stock worth $1,556,000 after acquiring an additional 450 shares during the period. Finally, Hunter Perkins Capital Management LLC boosted its stake in shares of QuidelOrtho by 2.9% in the third quarter. Hunter Perkins Capital Management LLC now owns 18,588 shares of the company’s stock worth $848,000 after acquiring an additional 530 shares during the period. Institutional investors own 99.00% of the company’s stock.

Insider Transactions at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total value of $291,667,061.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of QuidelOrtho in a research report on Friday, August 16th. UBS Group assumed coverage on QuidelOrtho in a research report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 target price on the stock. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Finally, William Blair restated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.83.

QuidelOrtho Trading Down 0.3 %

Shares of NASDAQ QDEL opened at $41.00 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The business’s 50 day moving average price is $40.88 and its 200-day moving average price is $40.21. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $75.86. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -1.47 and a beta of 0.12.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The firm had revenue of $727.00 million for the quarter, compared to the consensus estimate of $642.16 million. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts expect that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

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.