429,057 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Acquired by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC bought a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 429,057 shares of the company’s stock, valued at approximately $19,565,000.

Several other large investors have also added to or reduced their stakes in QDEL. Vanguard Group Inc. boosted its position in shares of QuidelOrtho by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock worth $233,906,000 after acquiring an additional 37,733 shares during the last quarter. Rubric Capital Management LP boosted its holdings in shares of QuidelOrtho by 51.9% during the 2nd quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company’s stock valued at $121,106,000 after purchasing an additional 1,245,590 shares during the last quarter. Maverick Capital Ltd. increased its holdings in shares of QuidelOrtho by 27.5% in the second quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock worth $57,434,000 after purchasing an additional 372,662 shares during the last quarter. Private Management Group Inc. increased its holdings in shares of QuidelOrtho by 2.6% in the third quarter. Private Management Group Inc. now owns 626,705 shares of the company’s stock worth $28,578,000 after purchasing an additional 16,084 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its position in shares of QuidelOrtho by 9.8% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 593,157 shares of the company’s stock worth $19,705,000 after buying an additional 52,729 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Trading Down 2.9 %

QDEL stock opened at $37.48 on Thursday. The firm’s fifty day simple moving average is $41.77 and its two-hundred day simple moving average is $40.39. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -1.34 and a beta of 0.12. 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 Co. has a twelve month low of $29.74 and a twelve month high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate 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 company had revenue of $727.00 million for the quarter, compared to the consensus estimate of $642.16 million. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, analysts anticipate that QuidelOrtho Co. will post 1.72 earnings per share for the current year.

Analysts Set New Price Targets

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

About QuidelOrtho

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.