Gagnon Securities LLC Grows Position in QuidelOrtho Corporation $QDEL

Gagnon Securities LLC grew its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 68.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,499 shares of the company’s stock after buying an additional 49,622 shares during the period. Gagnon Securities LLC’s holdings in QuidelOrtho were worth $3,608,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in QDEL. Salomon & Ludwin LLC boosted its stake in shares of QuidelOrtho by 100.6% during the third quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock valued at $30,000 after acquiring an additional 496 shares during the last quarter. Allworth Financial LP lifted its holdings in QuidelOrtho by 2,460.9% in the 2nd quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock valued at $34,000 after purchasing an additional 1,132 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of QuidelOrtho by 118.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock worth $38,000 after purchasing an additional 693 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of QuidelOrtho by 46.4% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $57,000 after buying an additional 623 shares in the last quarter. Finally, Tableaux LLC acquired a new position in shares of QuidelOrtho in the second quarter valued at approximately $93,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other QuidelOrtho news, CFO Joseph M. Busky bought 4,770 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average price of $26.06 per share, with a total value of $124,306.20. Following the transaction, the chief financial officer owned 6,920 shares in the company, valued at $180,335.20. This trade represents a 221.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian J. Blaser purchased 23,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $21.34 per share, for a total transaction of $501,490.00. Following the acquisition, the chief executive officer directly owned 29,533 shares of the company’s stock, valued at $630,234.22. This trade represents a 389.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 29,390 shares of company stock valued at $657,340. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on QDEL shares. JPMorgan Chase & Co. reduced their price objective on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a research note on Friday, November 7th. UBS Group increased their price target on QuidelOrtho from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research report on Thursday, January 22nd. Citigroup reiterated a “neutral” rating and issued a $33.00 target price (down from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. Finally, Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, QuidelOrtho presently has a consensus rating of “Hold” and a consensus target price of $39.00.

QuidelOrtho Trading Up 2.3%

Shares of QDEL opened at $27.41 on Friday. QuidelOrtho Corporation has a twelve month low of $19.50 and a twelve month high of $44.99. The firm has a market capitalization of $1.86 billion, a P/E ratio of -1.61 and a beta of 0.59. The company has a current ratio of 1.78, a quick ratio of 0.98 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $29.42 and its 200 day simple moving average is $27.63.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. The firm had revenue of $699.90 million during the quarter, compared to the consensus estimate of $667.45 million. QuidelOrtho had a positive return on equity of 5.75% and a negative net margin of 42.53%.The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. On average, equities research analysts forecast that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

About QuidelOrtho

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.