Victory Capital Management Inc. Has $1.07 Million Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Victory Capital Management Inc. grew its position in QuidelOrtho Co. (NASDAQ:QDEL) by 7.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 23,404 shares of the company’s stock after buying an additional 1,667 shares during the period. Victory Capital Management Inc.’s holdings in QuidelOrtho were worth $1,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in QDEL. Capital Performance Advisors LLP bought a new position in QuidelOrtho in the third quarter valued at about $25,000. Fifth Third Bancorp grew its position in shares of QuidelOrtho by 907.3% during the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after buying an additional 744 shares during the period. GAMMA Investing LLC raised its stake in shares of QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after buying an additional 378 shares during the last quarter. Innealta Capital LLC acquired a new position in QuidelOrtho in the second quarter valued at approximately $102,000. Finally, Quest Partners LLC grew its holdings in QuidelOrtho by 17,095.0% during the 2nd quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after acquiring an additional 3,419 shares during the period. Institutional investors own 99.00% of the company’s stock.

Insider Activity at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $40.98 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $75.86. The company’s 50 day moving average price is $41.18 and its two-hundred day moving average price is $40.26. The company has a market capitalization of $2.76 billion, a P/E ratio of -1.47 and a beta of 0.12.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data 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 business had revenue of $727.00 million for the quarter, compared to analysts’ expectations of $642.16 million. During the same period in the previous year, the firm posted $0.90 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, analysts expect that QuidelOrtho Co. will post 1.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. UBS Group initiated coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a research note on Friday, August 16th. Finally, Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, QuidelOrtho currently has a consensus rating of “Hold” and an average 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.