QuidelOrtho Corporation $QDEL Stock Position Raised by Stanley Capital Management LLC

Stanley Capital Management LLC increased its stake in QuidelOrtho Corporation (NASDAQ:QDEL) by 9.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 377,000 shares of the company’s stock after acquiring an additional 32,000 shares during the quarter. QuidelOrtho makes up 1.8% of Stanley Capital Management LLC’s holdings, making the stock its 25th largest holding. Stanley Capital Management LLC’s holdings in QuidelOrtho were worth $10,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of QuidelOrtho in the 1st quarter valued at $36,000. Allworth Financial LP lifted its stake in QuidelOrtho by 2,460.9% during the second quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock valued at $34,000 after buying an additional 1,132 shares in the last quarter. Quarry LP boosted its holdings in shares of QuidelOrtho by 47.1% in the first quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after buying an additional 460 shares during the period. Blue Trust Inc. increased its position in shares of QuidelOrtho by 46.4% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $57,000 after acquiring an additional 623 shares in the last quarter. Finally, Tableaux LLC acquired a new stake in shares of QuidelOrtho during the second quarter valued at approximately $93,000. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Stock Up 0.2%

QDEL opened at $26.53 on Wednesday. The company has a market capitalization of $1.80 billion, a PE ratio of -4.06 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 0.62. QuidelOrtho Corporation has a fifty-two week low of $19.50 and a fifty-two week high of $49.45. The business has a 50-day moving average of $26.56 and a 200-day moving average of $27.60.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.51 by $0.29. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The business had revenue of $699.90 million during the quarter, compared to analysts’ expectations of $667.45 million. During the same quarter in the previous year, the business posted $0.85 EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Equities research analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on QDEL shares. JPMorgan Chase & Co. decreased their price objective on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday, November 7th. UBS Group increased their target price on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a report on Wednesday, October 8th. Citigroup reissued a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a research report on Tuesday, October 7th. Finally, Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $38.20.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, CEO Brian J. Blaser acquired 23,500 shares of QuidelOrtho stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $21.34 per share, with a total value of $501,490.00. Following the purchase, the chief executive officer owned 29,533 shares in the company, valued at approximately $630,234.22. This trade represents a 389.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph M. Busky acquired 4,770 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was acquired at an average price of $26.06 per share, with a total value of $124,306.20. Following the completion of the acquisition, the chief financial officer directly owned 6,920 shares of the company’s stock, valued at $180,335.20. This represents a 221.86% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 28,640 shares of company stock valued at $636,138 over the last three months. Insiders own 0.79% of the company’s stock.

About QuidelOrtho

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.