Signaturefd LLC Sells 484 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Signaturefd LLC reduced its position in QuidelOrtho Co. (NASDAQ:QDEL) by 23.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,548 shares of the company’s stock after selling 484 shares during the period. Signaturefd LLC’s holdings in QuidelOrtho were worth $71,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Texas Permanent School Fund Corp raised its stake in QuidelOrtho by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company’s stock valued at $1,446,000 after acquiring an additional 257 shares during the period. State of Michigan Retirement System increased its position in shares of QuidelOrtho by 2.5% during the first quarter. State of Michigan Retirement System now owns 12,127 shares of the company’s stock valued at $581,000 after buying an additional 300 shares during the period. Balanced Rock Investment Advisors LLC increased its position in shares of QuidelOrtho by 5.1% during the second quarter. Balanced Rock Investment Advisors LLC now owns 6,784 shares of the company’s stock valued at $225,000 after buying an additional 329 shares during the period. GAMMA Investing LLC increased its position in shares of QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after buying an additional 378 shares during the period. Finally, Algert Global LLC increased its position in shares of QuidelOrtho by 1.0% during the second quarter. Algert Global LLC now owns 46,846 shares of the company’s stock valued at $1,556,000 after buying an additional 450 shares during the period. 99.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 169,467 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $42.10, for a total value of $7,134,560.70. Following the completion of the sale, the insider now owns 8,724,346 shares of the company’s stock, valued at $367,294,966.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 365,819 shares of company stock valued at $15,027,674 over the last quarter. 1.00% of the stock is owned by corporate insiders.

QuidelOrtho Stock Down 0.9 %

QDEL stock opened at $38.37 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $43.04 and its 200 day moving average is $40.49. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -1.38 and a beta of 0.09. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.15. The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $613.51 million. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. QuidelOrtho’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. Sell-side analysts predict that QuidelOrtho Co. will post 1.72 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.