Private Management Group Inc. boosted its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL – Free Report) by 49.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,070,391 shares of the company’s stock after acquiring an additional 685,622 shares during the quarter. Private Management Group Inc. owned 3.02% of QuidelOrtho worth $36,263,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of QDEL. BlackRock Inc. bought a new stake in shares of QuidelOrtho during the second quarter worth $196,212,000. Paradigm Capital Management Inc. NY bought a new position in shares of QuidelOrtho in the second quarter worth about $44,168,000. Invesco Ltd. increased its stake in QuidelOrtho by 87.0% in the 3rd quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock worth $85,604,000 after buying an additional 1,352,503 shares during the period. Rice Hall James & Associates LLC bought a new stake in QuidelOrtho during the 2nd quarter valued at about $18,628,000. Finally, Newtyn Management LLC boosted its position in QuidelOrtho by 58.3% in the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock valued at $79,515,000 after buying an additional 994,332 shares during the period. Institutional investors own 99.00% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Friday, July 17th. JPMorgan Chase & Co. boosted their price target on QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Wall Street Zen raised QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Citigroup raised their price target on QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Three analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, QuidelOrtho currently has an average rating of “Reduce” and a consensus target price of $13.62.
QuidelOrtho Stock Performance
Shares of QDEL stock opened at $14.74 on Friday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -0.96 and a beta of 0.68. The company’s 50 day moving average is $15.93 and its 200 day moving average is $16.04. The company has a quick ratio of 0.76, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. QuidelOrtho Corporation has a 52-week low of $9.92 and a 52-week high of $35.58.
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18. The company had revenue of $630.90 million during the quarter, compared to analyst estimates of $618.72 million. QuidelOrtho had a positive return on equity of 4.88% and a negative net margin of 39.20%.QuidelOrtho’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. On average, sell-side analysts anticipate that QuidelOrtho Corporation will post 0.75 EPS for the current fiscal year.
QuidelOrtho Profile
QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.
The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.
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