Bfsg LLC Has $167,000 Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Bfsg LLC grew its position in QuidelOrtho Co. (NASDAQ:QDEL) by 26.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,023 shares of the company’s stock after buying an additional 1,043 shares during the quarter. Bfsg LLC’s holdings in QuidelOrtho were worth $167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in QDEL. Fifth Third Bancorp boosted its stake in QuidelOrtho by 907.3% in the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after purchasing an additional 744 shares during the period. GAMMA Investing LLC grew its holdings in shares of QuidelOrtho by 1,871.8% during the first 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 QuidelOrtho during the first quarter valued at $86,000. EMC Capital Management purchased a new stake in QuidelOrtho in the 1st quarter worth about $117,000. Finally, CWM LLC lifted its stake in QuidelOrtho by 1,536.0% in the 1st quarter. CWM LLC now owns 2,814 shares of the company’s stock worth $135,000 after acquiring an additional 2,642 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a research note on Friday, August 16th. Two research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $57.60.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 64,263 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $40.23, for a total transaction of $2,585,300.49. Following the transaction, the insider now directly owns 12,395,920 shares in the company, valued at $498,687,861.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 2,261,559 shares of company stock worth $82,700,460 in the last 90 days. 1.00% of the stock is owned by insiders.

QuidelOrtho Stock Down 0.5 %

NASDAQ QDEL traded down $0.21 on Thursday, reaching $43.58. The stock had a trading volume of 568,609 shares, compared to its average volume of 1,060,901. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70. QuidelOrtho Co. has a 1 year low of $29.74 and a 1 year high of $84.60. The business has a 50 day moving average price of $37.76 and a 200 day moving average price of $41.69. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -1.65 and a beta of 0.07.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.15. The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $613.51 million. QuidelOrtho had a positive return on equity of 3.87% and a negative net margin of 65.60%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. On average, analysts forecast that QuidelOrtho Co. will post 1.77 EPS 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.