Sei Investments Co. Purchases 57,615 Shares of QuidelOrtho Corporation $QDEL

Sei Investments Co. lifted its position in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 27.2% during the first quarter, Holdings Channel reports. The firm owned 269,178 shares of the company’s stock after acquiring an additional 57,615 shares during the period. Sei Investments Co.’s holdings in QuidelOrtho were worth $4,423,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in QuidelOrtho by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock valued at $50,085,000 after buying an additional 212,481 shares during the last quarter. Goodman Financial Corp increased its position in shares of QuidelOrtho by 12.5% during the first quarter. Goodman Financial Corp now owns 437,157 shares of the company’s stock valued at $7,182,000 after acquiring an additional 48,405 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in QuidelOrtho by 24.9% during the first quarter. Illinois Municipal Retirement Fund now owns 43,751 shares of the company’s stock worth $719,000 after acquiring an additional 8,723 shares during the period. Principal Financial Group Inc. boosted its position in QuidelOrtho by 2.1% in the first quarter. Principal Financial Group Inc. now owns 331,184 shares of the company’s stock worth $5,441,000 after purchasing an additional 6,955 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in QuidelOrtho by 42,014.7% in the 1st quarter. Fifth Third Bancorp now owns 54,328 shares of the company’s stock valued at $893,000 after purchasing an additional 54,199 shares during the period. 99.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on QDEL shares. JPMorgan Chase & Co. lifted their target price on QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Friday, July 17th. UBS Group restated a “neutral” rating and set a $12.00 price target on shares of QuidelOrtho in a research note on Thursday, May 7th. Citigroup increased their price objective on QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, Jefferies Financial Group restated a “hold” rating on shares of QuidelOrtho in a research note on Monday, June 29th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $13.62.

QuidelOrtho Stock Performance

NASDAQ:QDEL opened at $17.50 on Thursday. The business’s fifty day moving average is $15.70 and its 200 day moving average is $17.70. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -0.98 and a beta of 0.68. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.43. QuidelOrtho Corporation has a 52-week low of $9.92 and a 52-week high of $35.58.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.41). The company had revenue of $619.80 million during the quarter, compared to the consensus estimate of $665.23 million. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. Research analysts predict that QuidelOrtho Corporation will post 1.87 EPS for the current year.

QuidelOrtho Profile

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.