Hunter Perkins Capital Management LLC Has $600,000 Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Hunter Perkins Capital Management LLC grew its position in QuidelOrtho Co. (NASDAQ:QDEL) by 23.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,058 shares of the company’s stock after purchasing an additional 3,455 shares during the period. Hunter Perkins Capital Management LLC’s holdings in QuidelOrtho were worth $600,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QDEL. Treasurer of the State of North Carolina raised its holdings 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 raised its stake in shares of QuidelOrtho by 2.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the company’s stock valued at $681,000 after acquiring an additional 300 shares in the last quarter. State of Michigan Retirement System lifted its holdings in QuidelOrtho by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 12,127 shares of the company’s stock worth $581,000 after purchasing an additional 300 shares during the last quarter. New York Life Investment Management LLC grew its holdings 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 purchasing an additional 355 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in 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 purchasing an additional 378 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of QuidelOrtho in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.60.

Insider Activity at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 127,981 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $36.19, for a total value of $4,631,632.39. Following the completion of the sale, the insider now directly owns 12,123,705 shares in the company, valued at $438,756,883.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 2,261,559 shares of company stock valued at $82,700,460 in the last three months. Corporate insiders own 1.00% of the company’s stock.

QuidelOrtho Price Performance

QDEL stock traded down $0.71 during trading on Friday, hitting $43.94. The company had a trading volume of 769,570 shares, compared to its average volume of 1,087,544. 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 has a fifty day moving average price of $36.53 and a two-hundred day moving average price of $43.41. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $84.60. The company has a market cap of $2.94 billion, a P/E ratio of -1.68 and a beta of 0.07.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results 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. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $613.51 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts expect that QuidelOrtho Co. will post 1.78 earnings per share for the current fiscal year.

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.