Skylands Capital LLC Increases Position in QuidelOrtho Co. (NASDAQ:QDEL)

Skylands Capital LLC lifted its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,450 shares of the company’s stock after purchasing an additional 11,150 shares during the period. QuidelOrtho comprises approximately 1.0% of Skylands Capital LLC’s portfolio, making the stock its 28th largest position. Skylands Capital LLC owned approximately 0.14% of QuidelOrtho worth $6,814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in QuidelOrtho by 109.0% during the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after buying an additional 181 shares during the last quarter. Cetera Trust Company N.A acquired a new position in QuidelOrtho in the fourth quarter valued at approximately $108,000. C M Bidwell & Associates Ltd. acquired a new stake in QuidelOrtho during the third quarter worth approximately $123,000. Bfsg LLC purchased a new stake in shares of QuidelOrtho during the 4th quarter worth approximately $146,000. Finally, Denali Advisors LLC boosted its holdings in shares of QuidelOrtho by 622.5% in the 3rd quarter. Denali Advisors LLC now owns 2,312 shares of the company’s stock valued at $169,000 after buying an additional 1,992 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Insiders Place Their Bets

In other QuidelOrtho news, CFO Joseph M. Busky acquired 2,150 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was purchased at an average price of $46.35 per share, for a total transaction of $99,652.50. Following the completion of the transaction, the chief financial officer now owns 2,150 shares of the company’s stock, valued at approximately $99,652.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.

QuidelOrtho Stock Performance

QDEL traded up $0.02 on Monday, hitting $39.66. 301,176 shares of the company traded hands, compared to its average volume of 994,249. QuidelOrtho Co. has a 12-month low of $37.78 and a 12-month high of $95.02. The company has a 50 day moving average of $44.54 and a 200-day moving average of $59.52. The company has a quick ratio of 0.88, a current ratio of 1.57 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.65 billion, a PE ratio of -251.44 and a beta of 0.11.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.84). The firm had revenue of $742.60 million during the quarter, compared to analyst estimates of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The firm’s revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the business posted $1.74 EPS. Sell-side analysts anticipate that QuidelOrtho Co. will post 2.28 earnings per share for the current year.

Analysts Set New Price Targets

QDEL has been the topic of several research analyst reports. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Royal Bank of Canada reduced their target price on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Craig Hallum reissued a “hold” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lowered QuidelOrtho from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $66.00 to $37.00 in a research report on Wednesday, February 14th. Finally, UBS Group reissued a “sell” rating and issued a $42.00 price objective (down from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.60.

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.