140,546 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd purchased a new stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 140,546 shares of the company’s stock, valued at approximately $4,669,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp raised its position in shares of QuidelOrtho by 907.3% during the second 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 lifted its position 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 acquiring an additional 1,329 shares in the last quarter. Headlands Technologies LLC acquired a new position in QuidelOrtho in the 1st quarter worth approximately $86,000. EMC Capital Management acquired a new stake in QuidelOrtho during the 1st quarter valued at $117,000. Finally, CWM LLC raised its stake in QuidelOrtho by 1,536.0% during the 1st quarter. CWM LLC now owns 2,814 shares of the company’s stock valued at $135,000 after purchasing an additional 2,642 shares during the period. Institutional investors own 99.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on QDEL shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of QuidelOrtho in a research report on Friday, August 16th. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.50.

Insiders Place Their Bets

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 169,467 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $42.10, for a total value of $7,134,560.70. Following the completion of the sale, the insider now owns 8,724,346 shares of the company’s stock, valued at $367,294,966.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 2,069,315 shares of company stock valued at $75,483,527 over the last three months. 1.00% of the stock is currently owned by insiders.

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $45.47 on Friday. The firm has a market cap of $3.06 billion, a P/E ratio of -1.72 and a beta of 0.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $77.44. The stock’s 50-day moving average is $40.14 and its two-hundred day moving average is $41.19.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.15. QuidelOrtho had a positive return on equity of 3.87% and a negative net margin of 65.60%. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $613.51 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. Analysts predict that QuidelOrtho Co. will post 1.77 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.