Goodman Financial Corp Reduces Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Goodman Financial Corp decreased its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,812 shares of the company’s stock after selling 8,144 shares during the quarter. QuidelOrtho accounts for about 2.8% of Goodman Financial Corp’s holdings, making the stock its 21st biggest position. Goodman Financial Corp owned about 0.40% of QuidelOrtho worth $12,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of QDEL. Rubric Capital Management LP boosted its position in QuidelOrtho by 51.9% during the second quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company’s stock worth $121,106,000 after purchasing an additional 1,245,590 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of QuidelOrtho during the 3rd quarter worth $19,565,000. Maverick Capital Ltd. boosted its position in shares of QuidelOrtho by 27.5% in the 2nd quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock worth $57,434,000 after buying an additional 372,662 shares in the last quarter. FMR LLC grew its stake in QuidelOrtho by 28.0% in the 3rd quarter. FMR LLC now owns 1,256,356 shares of the company’s stock valued at $57,290,000 after acquiring an additional 274,633 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new position in QuidelOrtho during the 2nd quarter valued at about $8,896,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group started coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target on the stock. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and raised their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.83.

QuidelOrtho Trading Up 2.5 %

Shares of QDEL opened at $41.16 on Tuesday. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $75.86. The stock has a fifty day moving average of $41.28 and a two-hundred day moving average of $40.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The company has a market capitalization of $2.77 billion, a PE ratio of -1.48 and a beta of 0.12.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The company had revenue of $727.00 million during the quarter, compared to the consensus estimate of $642.16 million. During the same quarter in the prior year, the company posted $0.90 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts forecast that QuidelOrtho Co. will post 1.73 EPS for the current year.

Insiders Place Their Bets

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

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.