Fmr LLC Has $57.29 Million Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Fmr LLC increased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 28.0% during the third quarter, HoldingsChannel reports. The fund owned 1,256,356 shares of the company’s stock after buying an additional 274,633 shares during the period. Fmr LLC’s holdings in QuidelOrtho were worth $57,290,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of QuidelOrtho by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,854 shares of the company’s stock valued at $1,911,000 after purchasing an additional 1,648 shares during the period. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 378 shares in the last quarter. SG Americas Securities LLC raised its position in QuidelOrtho by 20.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,334 shares of the company’s stock valued at $277,000 after buying an additional 1,404 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in QuidelOrtho by 9.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,840 shares of the company’s stock valued at $227,000 after acquiring an additional 572 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its position in QuidelOrtho by 23.7% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 18,058 shares of the company’s stock worth $600,000 after acquiring an additional 3,455 shares during the last quarter. 99.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on QDEL shares. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. 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 on the stock. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of QuidelOrtho in a research note on Friday, August 16th. Finally, Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and lifted their target price for the company from $40.00 to $57.00 in a research report 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.83.

Insider Buying and Selling

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $38.20 on Friday. The stock has a market cap of $2.57 billion, a P/E ratio of -1.37 and a beta of 0.11. The company has a fifty day moving average price of $40.35 and a two-hundred day moving average price of $40.12. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $75.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results 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 during 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%. QuidelOrtho’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. As a group, equities analysts predict that QuidelOrtho Co. will post 1.73 EPS 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.