Exane Derivatives increased its stake in QuidelOrtho Co. (NASDAQ:QDEL – Get Rating) by 4,883.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 299 shares of the company’s stock after buying an additional 293 shares during the quarter. Exane Derivatives’ holdings in QuidelOrtho were worth $34,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of QDEL. Western Pacific Wealth Management LP acquired a new stake in shares of QuidelOrtho in the fourth quarter valued at about $26,000. New Century Advisors LLC acquired a new stake in shares of QuidelOrtho in the fourth quarter valued at about $31,000. Emerald Advisers LLC acquired a new stake in QuidelOrtho during the 4th quarter valued at approximately $40,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in QuidelOrtho during the 4th quarter valued at approximately $66,000. Finally, Covestor Ltd acquired a new stake in QuidelOrtho during the 4th quarter valued at approximately $80,000. Institutional investors and hedge funds own 92.89% of the company’s stock.
QDEL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on QuidelOrtho in a research note on Friday, June 17th. They set a “neutral” rating for the company. StockNews.com upgraded QuidelOrtho from a “hold” rating to a “buy” rating in a research note on Friday, May 13th.
Shares of QDEL opened at $106.53 on Friday. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 4.50 and a beta of 0.04. The stock has a 50 day moving average of $98.70 and a 200-day moving average of $105.70. QuidelOrtho Co. has a 52 week low of $88.05 and a 52 week high of $180.06.
QuidelOrtho (NASDAQ:QDEL – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported $11.53 EPS for the quarter, topping the consensus estimate of $9.17 by $2.36. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $865.05 million. QuidelOrtho had a return on equity of 56.46% and a net margin of 43.26%. The business’s revenue was up 167.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.27 EPS. As a group, sell-side analysts forecast that QuidelOrtho Co. will post 14.92 EPS for the current year.
QuidelOrtho Profile (Get Rating)
QuidelOrtho Corporation provides various in vitro diagnostics products worldwide. The company’s product portfolio covers a range of point-of-care tests for infectious diseases, critical cardiac health and autoimmune biomarkers, and clinical and at-home products to detect COVID-19. It provides visually-read lateral flow products in infectious disease and reproductive health; direct fluorescent antibodies in infectious disease and virology; micro-titer production with a focus on bone and complement pathway markets; fluorescent immunoassay products; molecular diagnostic products comprising Savanna, an integrated molecular diagnostic system; immunodiagnostics, clinical chemistry, and integrated testing systems to serve diagnostic labs of all sizes; immunodiagnostic donor screening systems and services that drive blood safety; pre-transfusion testing that automates blood bank workload with software to standardize operations, simplify tasks, and improve productivity; and Ortho Care services and informatics products.
Featured Stories
Want to see what other hedge funds are holding QDEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QuidelOrtho Co. (NASDAQ:QDEL – Get Rating).
Receive News & Ratings for QuidelOrtho Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for QuidelOrtho and related companies with MarketBeat.com’s FREE daily email newsletter.
Read More: QuidelOrtho Co. (NASDAQ:QDEL) Shares Acquired by Exane Derivatives