QuidelOrtho Co. (NASDAQ:QDEL) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,584 shares of the company’s stock after purchasing an additional 2,385 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in QuidelOrtho were worth $7,186,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of QDEL. Leeward Investments LLC MA lifted its holdings in QuidelOrtho by 17.1% in the third quarter. Leeward Investments LLC MA now owns 229,847 shares of the company’s stock valued at $10,481,000 after acquiring an additional 33,588 shares during the period. Hsbc Holdings PLC increased its holdings in shares of QuidelOrtho by 316.2% in the 2nd quarter. Hsbc Holdings PLC now owns 28,916 shares of the company’s stock valued at $962,000 after purchasing an additional 21,968 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of QuidelOrtho in the 2nd quarter valued at about $4,669,000. Maverick Capital Ltd. grew its position in QuidelOrtho by 27.5% during the second quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock worth $57,434,000 after buying an additional 372,662 shares during the period. Finally, Phocas Financial Corp. acquired a new position in QuidelOrtho during the third quarter worth about $3,592,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on QDEL. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a research note on Friday, August 16th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. UBS Group assumed coverage on QuidelOrtho in a research report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target for the company. Finally, Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and increased their price objective for the company from $40.00 to $57.00 in a research note on Thursday, September 5th. One investment 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. Based on data from MarketBeat, QuidelOrtho currently has an average rating of “Hold” and an average target price of $58.83.

QuidelOrtho Stock Up 6.1 %

QDEL opened at $40.53 on Tuesday. The firm has a market cap of $2.73 billion, a P/E ratio of -1.45 and a beta of 0.11. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $40.25 and its 200 day simple moving average is $40.08. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. The business had revenue of $727.00 million for the quarter, compared to the consensus estimate of $642.16 million. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, equities research analysts anticipate that QuidelOrtho Co. will post 1.73 EPS for the current fiscal year.

About QuidelOrtho

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.