Thrivent Financial for Lutherans Increases Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Thrivent Financial for Lutherans grew its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 279.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 45,407 shares of the company’s stock after acquiring an additional 33,432 shares during the quarter. Thrivent Financial for Lutherans’ holdings in QuidelOrtho were worth $2,071,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of QuidelOrtho in the third quarter worth approximately $25,000. Fifth Third Bancorp grew its holdings in shares of QuidelOrtho by 907.3% in 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 last quarter. GAMMA Investing LLC grew its holdings in shares of QuidelOrtho by 27.0% in the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after purchasing an additional 378 shares during the last quarter. Innealta Capital LLC bought a new position in shares of QuidelOrtho in the second quarter worth approximately $102,000. Finally, Quest Partners LLC grew its holdings in shares of QuidelOrtho by 17,095.0% in the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after purchasing an additional 3,419 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Analyst Ratings Changes

QDEL has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. UBS Group started coverage on QuidelOrtho in a research note on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target on the stock. Finally, William Blair reissued a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.83.

QuidelOrtho Stock Up 0.3 %

Shares of NASDAQ:QDEL opened at $41.12 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $75.86. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -1.47 and a beta of 0.12. The company has a 50-day moving average price of $40.97 and a 200 day moving average price of $40.28.

QuidelOrtho (NASDAQ:QDEL) last issued 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. The firm had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. As a group, equities research analysts predict that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

Insider Transactions at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.