18,092 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Bought by Entropy Technologies LP

Entropy Technologies LP bought a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,092 shares of the company’s stock, valued at approximately $867,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of QuidelOrtho by 1,871.8% in the 1st quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock valued at $67,000 after buying an additional 1,329 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of QuidelOrtho in the 1st quarter valued at $86,000. Cetera Trust Company N.A acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $108,000. CWM LLC raised its stake in shares of QuidelOrtho by 1,536.0% in the 1st quarter. CWM LLC now owns 2,814 shares of the company’s stock valued at $135,000 after buying an additional 2,642 shares in the last quarter. Finally, Bfsg LLC acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $146,000. Institutional investors own 99.00% of the company’s stock.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 93,187 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $31.70, for a total transaction of $2,954,027.90. Following the sale, the insider now owns 10,894,562 shares of the company’s stock, valued at approximately $345,357,615.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 983,601 shares of company stock valued at $33,217,310. 1.00% of the stock is owned by insiders.

QuidelOrtho Price Performance

Shares of QDEL traded up $0.70 during trading hours on Wednesday, hitting $34.85. The stock had a trading volume of 854,596 shares, compared to its average volume of 984,179. The company’s fifty day moving average is $38.17 and its two-hundred day moving average is $48.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.55 and a quick ratio of 0.81. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $89.11. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -1.32 and a beta of 0.07.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, May 8th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $697.33 million. On average, analysts anticipate that QuidelOrtho Co. will post 1.85 EPS for the current year.

Analyst Ratings Changes

Separately, Royal Bank of Canada dropped their price objective on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Two research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.00.

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.