QuidelOrtho Co. (NASDAQ:QDEL) Stock Holdings Lifted by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL raised its position in QuidelOrtho Co. (NASDAQ:QDEL) by 3.5% during the first quarter, HoldingsChannel.com reports. The firm owned 207,801 shares of the company’s stock after buying an additional 7,121 shares during the quarter. Gamco Investors INC. ET AL’s holdings in QuidelOrtho were worth $9,962,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QDEL. Raymond James Financial Services Advisors Inc. grew its stake in QuidelOrtho by 11.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,559 shares of the company’s stock valued at $1,884,000 after purchasing an additional 2,727 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of QuidelOrtho by 77.7% in the fourth quarter. Pacer Advisors Inc. now owns 7,431 shares of the company’s stock worth $548,000 after buying an additional 3,249 shares during the last quarter. Hunter Perkins Capital Management LLC lifted its position in shares of QuidelOrtho by 125.7% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 11,118 shares of the company’s stock worth $819,000 after buying an additional 6,193 shares during the last quarter. LGT Capital Partners LTD. lifted its position in shares of QuidelOrtho by 69.9% in the fourth quarter. LGT Capital Partners LTD. now owns 954,466 shares of the company’s stock worth $70,344,000 after buying an additional 392,790 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of QuidelOrtho by 167.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 85,375 shares of the company’s stock worth $6,292,000 after buying an additional 53,446 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 214,732 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $38.97, for a total value of $8,368,106.04. Following the completion of the transaction, the insider now owns 10,113,040 shares of the company’s stock, valued at approximately $394,105,168.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 1,468,847 shares of company stock valued at $51,024,340 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reduced their price target on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company 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 given a buy rating to the company’s stock. According to data from MarketBeat, QuidelOrtho presently has an average rating of “Hold” and an average target price of $59.00.

QuidelOrtho Stock Performance

Shares of NASDAQ QDEL traded up $0.67 during trading hours on Friday, hitting $38.91. 1,159,802 shares of the company’s stock were exchanged, compared to its average volume of 1,572,828. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $89.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.55 and a quick ratio of 0.81. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -1.47 and a beta of 0.07. The company’s 50-day moving average price is $37.04 and its 200-day moving average price is $46.36.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data 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 business had revenue of $711.00 million for the quarter, compared to analyst estimates of $697.33 million. On average, sell-side analysts expect that QuidelOrtho Co. will post 1.85 earnings per share for the current fiscal 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.