Segall Bryant & Hamill LLC Sells 71,044 Shares of QuidelOrtho Corporation $QDEL

Segall Bryant & Hamill LLC decreased its position in QuidelOrtho Corporation (NASDAQ:QDEL) by 5.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,229,152 shares of the company’s stock after selling 71,044 shares during the period. Segall Bryant & Hamill LLC’s holdings in QuidelOrtho were worth $36,199,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of QDEL. Geode Capital Management LLC raised its position in shares of QuidelOrtho by 46.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,678,670 shares of the company’s stock worth $48,385,000 after acquiring an additional 529,770 shares in the last quarter. State Street Corp grew its stake in QuidelOrtho by 23.3% during the second quarter. State Street Corp now owns 2,700,940 shares of the company’s stock worth $77,841,000 after purchasing an additional 510,291 shares during the period. American Century Companies Inc. increased its holdings in QuidelOrtho by 20.6% in the second quarter. American Century Companies Inc. now owns 1,915,648 shares of the company’s stock worth $55,209,000 after purchasing an additional 327,003 shares in the last quarter. Norges Bank bought a new stake in QuidelOrtho in the second quarter worth approximately $9,270,000. Finally, Paradigm Capital Management Inc. NY lifted its stake in QuidelOrtho by 59.0% in the second quarter. Paradigm Capital Management Inc. NY now owns 746,290 shares of the company’s stock valued at $21,508,000 after buying an additional 276,790 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Matthew Strobeck acquired 10,000 shares of the business’s stock in a transaction on Friday, February 13th. The shares were purchased at an average cost of $23.96 per share, with a total value of $239,600.00. Following the acquisition, the director directly owned 27,775 shares of the company’s stock, valued at $665,489. The trade was a 56.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph M. Busky bought 3,370 shares of QuidelOrtho stock in a transaction dated Friday, February 13th. The stock was purchased at an average price of $23.66 per share, with a total value of $79,734.20. Following the purchase, the chief financial officer owned 10,290 shares in the company, valued at approximately $243,461.40. This represents a 48.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 24,660 shares of company stock worth $589,175. 0.79% of the stock is owned by corporate insiders.

QuidelOrtho Trading Down 0.6%

QDEL opened at $22.60 on Tuesday. QuidelOrtho Corporation has a fifty-two week low of $19.50 and a fifty-two week high of $41.40. The firm has a market capitalization of $1.54 billion, a PE ratio of -1.36 and a beta of 0.75. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.50 and a quick ratio of 0.90. The company’s 50-day moving average is $28.26 and its 200 day moving average is $27.64.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.80 million. QuidelOrtho had a positive return on equity of 5.91% and a negative net margin of 41.46%.The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, research analysts predict that QuidelOrtho Corporation will post 2.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research downgraded shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. UBS Group set a $30.00 price target on shares of QuidelOrtho in a report on Thursday, February 12th. JPMorgan Chase & Co. decreased their price target on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday, November 7th. Citigroup upped their price objective on shares of QuidelOrtho from $23.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $31.50.

About QuidelOrtho

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.