Vontobel Holding Ltd. acquired a new position in QuidelOrtho Co. (NASDAQ:QDEL – Free Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 4,055 shares of the company’s stock, valued at approximately $299,000.
Several other hedge funds have also recently made changes to their positions in the business. Louisiana State Employees Retirement System bought a new position in shares of QuidelOrtho in the 4th quarter worth about $1,024,000. Perigon Wealth Management LLC bought a new position in shares of QuidelOrtho in the 4th quarter worth about $232,000. Allspring Global Investments Holdings LLC raised its position in shares of QuidelOrtho by 4.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 148,923 shares of the company’s stock worth $10,976,000 after acquiring an additional 6,401 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of QuidelOrtho by 7,410.5% in the 4th quarter. International Assets Investment Management LLC now owns 7,886 shares of the company’s stock worth $581,000 after acquiring an additional 7,781 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of QuidelOrtho by 167.4% in the 4th quarter. Pinnacle Associates Ltd. now owns 85,375 shares of the company’s stock worth $6,292,000 after acquiring an additional 53,446 shares in the last quarter. 99.00% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other QuidelOrtho news, CFO Joseph M. Busky bought 2,150 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $46.35 per share, for a total transaction of $99,652.50. Following the purchase, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at $99,652.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Research Report on QuidelOrtho
QuidelOrtho Stock Performance
Shares of QDEL opened at $40.40 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 1.57. The stock has a 50 day moving average price of $44.76 and a two-hundred day moving average price of $60.16. The firm has a market capitalization of $2.70 billion, a P/E ratio of -252.50 and a beta of 0.11. QuidelOrtho Co. has a 52 week low of $37.78 and a 52 week high of $95.02.
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). The company had revenue of $742.60 million for the quarter, compared to the consensus estimate of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.74 earnings per share. Equities analysts forecast that QuidelOrtho Co. will post 2.28 earnings per share for the current fiscal year.
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.
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