QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by LSV Asset Management

LSV Asset Management cut its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 758,356 shares of the company’s stock after selling 18,318 shares during the period. LSV Asset Management’s holdings in QuidelOrtho were worth $36,356,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Treasurer of the State of North Carolina lifted its position in QuidelOrtho by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 23,691 shares of the company’s stock valued at $1,746,000 after buying an additional 230 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in QuidelOrtho by 2.2% during the first quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the company’s stock valued at $681,000 after buying an additional 300 shares in the last quarter. State of Michigan Retirement System lifted its position in 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 in the last quarter. New York Life Investment Management LLC lifted its position in QuidelOrtho by 6.9% during the fourth quarter. New York Life Investment Management LLC now owns 5,509 shares of the company’s stock valued at $406,000 after buying an additional 355 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in QuidelOrtho by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 43,275 shares of the company’s stock valued at $2,075,000 after buying an additional 560 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reduced their price target on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, QuidelOrtho presently has a consensus rating of “Hold” and an average target price of $59.00.

QuidelOrtho Stock Up 2.9 %

Shares of NASDAQ QDEL traded up $0.90 during trading on Friday, reaching $32.38. 909,817 shares of the stock were exchanged, compared to its average volume of 981,746. The business’s 50-day moving average price is $38.59 and its 200 day moving average price is $49.02. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $89.11. The company has a quick ratio of 0.81, a current ratio of 1.55 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -1.23 and a beta of 0.07.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, May 8th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $697.33 million. As a group, equities analysts forecast that QuidelOrtho Co. will post 1.85 EPS for the current fiscal year.

Insider Transactions at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 64,263 shares of QuidelOrtho stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $40.23, for a total value of $2,585,300.49. Following the completion of the sale, the insider now owns 12,395,920 shares in the company, valued at $498,687,861.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 833,161 shares of company stock valued at $28,411,148. Corporate insiders own 1.00% of the company’s stock.

QuidelOrtho Company 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.