American Century Companies Inc. Sells 59,552 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Posted by on Sep 1st, 2023

American Century Companies Inc. decreased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL – Free Report) by 21.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,165 shares of the company’s stock after selling 59,552 shares during the period. American Century Companies Inc. owned approximately 0.32% of QuidelOrtho worth $18,687,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its position in shares of QuidelOrtho by 2.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,506,473 shares of the company’s stock worth $557,410,000 after acquiring an additional 160,782 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of QuidelOrtho by 13.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,928,892 shares of the company’s stock worth $250,918,000 after acquiring an additional 352,574 shares in the last quarter. Senvest Management LLC grew its position in QuidelOrtho by 11.6% in the fourth quarter. Senvest Management LLC now owns 2,798,149 shares of the company’s stock valued at $239,717,000 after purchasing an additional 290,941 shares in the last quarter. State Street Corp raised its holdings in QuidelOrtho by 6.3% during the third quarter. State Street Corp now owns 1,487,058 shares of the company’s stock worth $106,295,000 after acquiring an additional 88,167 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in QuidelOrtho during the fourth quarter worth about $92,264,000. Institutional investors own 93.87% of the company’s stock.

QuidelOrtho Trading Down 0.5 %

Shares of QDEL stock opened at $82.36 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The stock has a market cap of $5.50 billion, a P/E ratio of 124.79 and a beta of 0.27. The stock has a 50 day simple moving average of $82.30 and a 200 day simple moving average of $85.83. QuidelOrtho Co. has a 1 year low of $66.88 and a 1 year high of $102.00.

QuidelOrtho (NASDAQ:QDEL – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $665.10 million during the quarter, compared to analysts’ expectations of $615.11 million. QuidelOrtho had a return on equity of 7.65% and a net margin of 1.43%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 earnings per share. On average, research analysts predict that QuidelOrtho Co. will post 4.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

QDEL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on QuidelOrtho from $91.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Raymond James decreased their target price on QuidelOrtho from $130.00 to $110.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $136.00 target price on shares of QuidelOrtho in a research report on Wednesday, August 9th. Finally, StockNews.com started coverage on QuidelOrtho in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.17.

View Our Latest Stock Report on QDEL

QuidelOrtho Profile

(Free Report)

QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies and 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.

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Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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