2 weeks Ago By ABMN Staff
Maverick Capital Ltd. increased its stake in shares of QuidelOrtho Co. ( NASDAQ:QDEL – Free Report ) by 27.
5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,728,913 shares of the company’s stock after purchasing an additional 372,662 shares during the period. Maverick Capital Ltd.
’s holdings in QuidelOrtho were worth $57,434,000 at the end of the most recent reporting period. A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc.
boosted its position in shares of QuidelOrtho by 0.8% during the 1st quarter. Vanguard Group Inc.
now owns 4,879,143 shares of the company’s stock worth $233,906,000 after purchasing an additional 37,733 shares during the period. Rubric Capital Management LP boosted its position 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 worth $121,106,000 after purchasing an additional 1,245,590 shares during the period. Private Management Group Inc. boosted its position in shares of QuidelOrtho by 33.
4% during the 2nd quarter. Private Management Group Inc. now owns 610,621 shares of the company’s stock worth $20,285,000 after purchasing an additional 152,769 shares during the period.
Van Lanschot Kempen Investment Management N.V. boosted its position in shares of QuidelOrtho by 9.
8% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V.
now owns 593,157 shares of the company’s stock worth $19,705,000 after purchasing an additional 52,729 shares during the period. Finally, Norges Bank purchased a new position in shares of QuidelOrtho during the 4th quarter worth approximately $41,968,000. Hedge funds and other institutional investors own 99.
00% of the company’s stock. Insider Activity In related news, major shareholder Carlyle Group Inc. sold 24,390 shares of QuidelOrtho stock in a transaction on Wednesday, July 10th.
The shares were sold at an average price of $30.09, for a total transaction of $733,895.10.
Following the sale, the insider now directly owns 11,141,580 shares in the company, valued at approximately $335,250,142.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink .
In the last three months, insiders have sold 1,697,334 shares of company stock worth $62,666,450. 1.00% of the stock is currently owned by corporate insiders.
QuidelOrtho Price Performance QuidelOrtho ( NASDAQ:QDEL – Get Free Report ) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.
22) by $0.15. QuidelOrtho had a negative net margin of 65.
60% and a positive return on equity of 3.87%. The business had revenue of $637.
00 million for the quarter, compared to analyst estimates of $613.51 million. During the same period last year, the business earned $0.
26 EPS. The company’s revenue was down 4.2% on a year-over-year basis.
Equities analysts forecast that QuidelOrtho Co. will post 1.77 EPS for the current fiscal year.
Analyst Ratings Changes A number of research firms recently weighed in on QDEL. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of QuidelOrtho in a research report on Friday, August 16th.
Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th.
Finally, UBS Group assumed coverage on shares of QuidelOrtho in a research report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target for the company.
One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.
83. View Our Latest Research Report on QDEL QuidelOrtho Profile ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding QDEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QuidelOrtho Co.
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