QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Goodman Financial Corp

Goodman Financial Corp lowered its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 2.9% in the third quarter, Holdings Channel reports. The institutional investor owned 270,812 shares of the company’s stock after selling 8,144 shares during the quarter. QuidelOrtho accounts for approximately 2.8% of Goodman Financial Corp’s portfolio, making the stock its 21st biggest position. Goodman Financial Corp’s holdings in QuidelOrtho were worth $12,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rubric Capital Management LP raised its stake in shares of QuidelOrtho by 51.9% in 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 in the last quarter. Segall Bryant & Hamill LLC bought a new stake in QuidelOrtho in the third quarter valued at about $19,565,000. Maverick Capital Ltd. raised its stake in QuidelOrtho by 27.5% during the second quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock valued at $57,434,000 after buying an additional 372,662 shares in the last quarter. FMR LLC lifted its holdings in QuidelOrtho by 28.0% during the 3rd quarter. FMR LLC now owns 1,256,356 shares of the company’s stock worth $57,290,000 after buying an additional 274,633 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new position in shares of QuidelOrtho in the 2nd quarter worth approximately $8,896,000. Institutional investors own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group began coverage on QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a research report on Friday, August 16th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Finally, Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and raised their target price for the stock from $40.00 to $57.00 in a report on Thursday, September 5th. One investment 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, the company currently has a consensus rating of “Hold” and a consensus target price of $58.83.

QuidelOrtho Stock Up 2.5 %

Shares of QuidelOrtho stock opened at $41.16 on Tuesday. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $75.86. The company has a market capitalization of $2.77 billion, a P/E ratio of -1.48 and a beta of 0.12. The business’s fifty day moving average price is $41.28 and its two-hundred day moving average price is $40.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same quarter in the prior year, the firm posted $0.90 EPS. QuidelOrtho’s revenue was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that QuidelOrtho Co. will post 1.73 EPS for the current year.

Insider Buying and Selling at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of QuidelOrtho stock in a transaction dated Thursday, November 21st. The stock was 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 SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.