HBK Investments L P Grows Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

HBK Investments L P raised its position in QuidelOrtho Co. (NASDAQ:QDEL) by 52.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 329,645 shares of the company’s stock after acquiring an additional 113,242 shares during the quarter. HBK Investments L P owned approximately 0.49% of QuidelOrtho worth $15,032,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in QuidelOrtho during the third quarter worth about $25,000. Fifth Third Bancorp boosted its stake in QuidelOrtho by 907.3% during the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after acquiring an additional 744 shares in the last quarter. GAMMA Investing LLC boosted its stake in QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after acquiring an additional 378 shares in the last quarter. Innealta Capital LLC bought a new stake in QuidelOrtho during the second quarter worth about $102,000. Finally, Quest Partners LLC boosted its stake in QuidelOrtho by 17,095.0% during the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after acquiring an additional 3,419 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Insider Buying and Selling

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total transaction of $291,667,061.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

QuidelOrtho Stock Up 0.3 %

Shares of QDEL stock opened at $41.12 on Friday. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $75.86. The company has a 50 day simple moving average of $40.97 and a two-hundred day simple moving average of $40.28. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The business had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. On average, analysts expect that QuidelOrtho Co. will post 1.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of QuidelOrtho in a research note on Thursday, September 19th. They issued a “neutral” rating and a $50.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of QuidelOrtho in a research note on Friday, August 16th. Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and upped their target price for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. Finally, William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.83.

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.