Legal & General Group Plc Purchases Shares of 162,798 QuidelOrtho Corporation $QDEL

Legal & General Group Plc purchased a new stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 162,798 shares of the company’s stock, valued at approximately $2,851,000.

Several other institutional investors have also recently made changes to their positions in QDEL. BlackRock Inc. bought a new stake in QuidelOrtho during the second quarter valued at approximately $196,212,000. Paradigm Capital Management Inc. NY bought a new position in QuidelOrtho in the second quarter worth approximately $44,168,000. Invesco Ltd. raised its position in QuidelOrtho by 87.0% in the third quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock worth $85,604,000 after acquiring an additional 1,352,503 shares during the period. Rice Hall James & Associates LLC purchased a new position in shares of QuidelOrtho during the 2nd quarter worth $18,628,000. Finally, Newtyn Management LLC boosted its stake in shares of QuidelOrtho by 58.3% during the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock worth $79,515,000 after acquiring an additional 994,332 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Up 0.3%

Shares of QDEL stock opened at $13.97 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 0.76. QuidelOrtho Corporation has a one year low of $9.92 and a one year high of $35.58. The company’s fifty day moving average price is $16.05 and its 200-day moving average price is $15.58. The company has a market capitalization of $957.99 million, a price-to-earnings ratio of -0.91 and a beta of 0.68.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.18. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. The company had revenue of $630.90 million during the quarter, compared to the consensus estimate of $618.72 million. During the same quarter in the prior year, the firm posted $0.12 EPS. QuidelOrtho’s quarterly revenue was up 2.8% compared to the same quarter last year. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Sell-side analysts expect that QuidelOrtho Corporation will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on QDEL shares. JPMorgan Chase & Co. upped their price objective on QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a report on Friday, July 17th. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Monday, June 29th. Finally, Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $13.62.

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.