QuidelOrtho Corporation $QDEL Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC cut its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 47.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,290 shares of the company’s stock after selling 1,142 shares during the period. GAMMA Investing LLC’s holdings in QuidelOrtho were worth $37,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in QDEL. Summit Securities Group LLC acquired a new position in shares of QuidelOrtho during the first quarter worth $36,000. Quarry LP increased its position in shares of QuidelOrtho by 47.1% during the first quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after purchasing an additional 460 shares in the last quarter. SYM FINANCIAL Corp acquired a new position in shares of QuidelOrtho during the first quarter worth $235,000. Vident Advisory LLC acquired a new position in shares of QuidelOrtho during the first quarter worth $240,000. Finally, Voya Investment Management LLC increased its position in shares of QuidelOrtho by 9.2% during the first quarter. Voya Investment Management LLC now owns 8,243 shares of the company’s stock worth $288,000 after purchasing an additional 692 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on QDEL shares. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. UBS Group cut their target price on QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Citigroup cut their target price on QuidelOrtho from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, QuidelOrtho currently has an average rating of “Hold” and an average price target of $39.20.

QuidelOrtho Trading Down 6.1%

QDEL stock opened at $29.98 on Monday. The company’s 50-day simple moving average is $27.21 and its 200-day simple moving average is $28.82. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. QuidelOrtho Corporation has a 52-week low of $22.05 and a 52-week high of $49.45. The firm has a market cap of $2.04 billion, a P/E ratio of -4.58 and a beta of 0.27.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.11. The firm had revenue of $613.90 million for the quarter, compared to analyst estimates of $612.36 million. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. QuidelOrtho’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted ($0.07) EPS. As a group, equities analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

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.