Signet Financial Management LLC Sells 4,333 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Signet Financial Management LLC reduced its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 24.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,309 shares of the company’s stock after selling 4,333 shares during the period. Signet Financial Management LLC’s holdings in QuidelOrtho were worth $981,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in 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 valued at $26,000 after purchasing an additional 181 shares during the last quarter. Money Concepts Capital Corp increased its position in QuidelOrtho by 66.8% in the 4th quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Eagle Bay Advisors LLC increased its position in QuidelOrtho by 174.2% in the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock valued at $34,000 after acquiring an additional 223 shares in the last quarter. First Horizon Advisors Inc. increased its position in QuidelOrtho by 48.6% in the 1st quarter. First Horizon Advisors Inc. now owns 822 shares of the company’s stock valued at $73,000 after acquiring an additional 269 shares in the last quarter. Finally, Savant Capital LLC acquired a new stake in QuidelOrtho in the 4th quarter valued at about $97,000. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Stock Performance

Shares of NASDAQ QDEL opened at $40.30 on Wednesday. The firm has a 50 day moving average price of $47.63 and a 200 day moving average price of $61.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 1.57. QuidelOrtho Co. has a 52-week low of $39.86 and a 52-week high of $95.02.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The company had revenue of $742.60 million during the quarter, compared to the consensus estimate of $796.91 million. During the same period in the previous year, the firm posted $1.74 EPS. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. On average, sell-side analysts forecast that QuidelOrtho Co. will post 2.36 EPS for the current year.

Wall Street Analyst Weigh In

QDEL has been the subject of several research reports. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. Raymond James restated an “outperform” rating and issued a $76.00 price objective (down previously from $100.00) on shares of QuidelOrtho in a research report on Wednesday, February 14th. JPMorgan Chase & Co. cut shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $66.00 to $37.00 in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada lowered their price objective on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.60.

Insider Buying and Selling at QuidelOrtho

In related news, CFO Joseph M. Busky purchased 2,150 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $46.35 per share, with a total value of $99,652.50. Following the completion of the purchase, the chief financial officer now owns 2,150 shares in the company, valued at approximately $99,652.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.