Private Management Group Inc. raised its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL – Free Report) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,290,299 shares of the company’s stock after purchasing an additional 219,908 shares during the quarter. Private Management Group Inc.’s holdings in QuidelOrtho were worth $24,140,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in QuidelOrtho during the second quarter worth $196,212,000. Newtyn Management LLC lifted its stake in shares of QuidelOrtho by 45.3% in the second quarter. Newtyn Management LLC now owns 6,625,000 shares of the company’s stock valued at $116,037,000 after buying an additional 2,066,528 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of QuidelOrtho by 7.5% in the first 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 in the last quarter. Paradigm Capital Management Inc. NY acquired a new position in shares of QuidelOrtho during the second quarter valued at about $44,168,000. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of QuidelOrtho by 29.2% during the first quarter. Segall Bryant & Hamill LLC now owns 1,543,410 shares of the company’s stock valued at $25,358,000 after buying an additional 348,549 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.
QuidelOrtho Stock Up 13.0%
Shares of NASDAQ:QDEL opened at $12.09 on Tuesday. The business’s 50 day moving average is $12.53 and its 200 day moving average is $15.87. QuidelOrtho Corporation has a 12-month low of $9.92 and a 12-month high of $35.58. The stock has a market cap of $829.01 million, a price-to-earnings ratio of 16.69 and a beta of 0.77. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 1.40.
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. QuidelOrtho had a positive return on equity of 3.22% and a negative net margin of 14.24%. The business had revenue of $618.90 million during the quarter, compared to analyst estimates of $627.83 million. During the same period in the prior year, the firm posted $0.80 EPS. QuidelOrtho’s quarterly revenue was down 11.6% compared to the same quarter last year. On average, sell-side analysts forecast that QuidelOrtho Corporation will post 0.68 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently commented on QDEL. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Thursday, October 15th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $13.62.
Get Our Latest Stock Analysis on QDEL
QuidelOrtho Company Profile
QuidelOrtho Corporation (NASDAQ:QDEL) is a global in vitro diagnostics company formed through the combination of Quidel Corporation and Ortho Clinical Diagnostics, a transaction completed in 2022. The company develops, manufactures and markets diagnostic technologies used to detect disease, guide treatment decisions and support blood-transfusion safety.
Its portfolio includes rapid immunoassays, molecular testing systems, clinical chemistry and immunohematology products, as well as laboratory automation solutions.
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