268,191 QuidelOrtho Corporation $QDEL Shares Acquired by Gagnon Securities LLC

Gagnon Securities LLC lifted its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 26.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,298,562 shares of the company’s stock after acquiring an additional 268,191 shares during the quarter. QuidelOrtho comprises approximately 2.4% of Gagnon Securities LLC’s holdings, making the stock its 19th biggest holding. Gagnon Securities LLC owned approximately 1.89% of QuidelOrtho worth $13,687,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System purchased a new stake in shares of QuidelOrtho in the third quarter worth about $160,000. Illinois Municipal Retirement Fund grew its stake in shares of QuidelOrtho by 15.4% in the third quarter. Illinois Municipal Retirement Fund now owns 40,140 shares of the company’s stock valued at $423,000 after buying an additional 5,345 shares in the last quarter. Private Management Group Inc. raised its holdings in shares of QuidelOrtho by 10.6% during the 3rd quarter. Private Management Group Inc. now owns 2,290,299 shares of the company’s stock valued at $24,140,000 after buying an additional 219,908 shares during the period. Fulcrum Asset Management LLP raised its holdings in shares of QuidelOrtho by 337.4% during the 3rd quarter. Fulcrum Asset Management LLP now owns 29,344 shares of the company’s stock valued at $311,000 after buying an additional 22,636 shares during the period. Finally, Bfsg LLC raised its holdings in shares of QuidelOrtho by 6.0% during the 3rd quarter. Bfsg LLC now owns 17,550 shares of the company’s stock valued at $185,000 after buying an additional 995 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QDEL has been the subject of a number of analyst reports. Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Thursday, October 15th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $13.62.

QuidelOrtho Stock Up 3.4%

Shares of QuidelOrtho stock opened at $11.91 on Thursday. QuidelOrtho Corporation has a 1-year low of $9.92 and a 1-year high of $35.58. The company has a market capitalization of $817.15 million, a PE ratio of 13.40 and a beta of 0.77. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.36 and a quick ratio of 0.75. The business has a 50-day moving average of $12.44 and a 200-day moving average of $15.69.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.18 by $0.13. The business had revenue of $618.90 million for the quarter, compared to analysts’ expectations of $627.83 million. QuidelOrtho had a positive return on equity of 3.22% and a negative net margin of 14.24%. The company’s revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, equities analysts forecast that QuidelOrtho Corporation will post 0.66 EPS for the current fiscal year.

QuidelOrtho Profile

QuidelOrtho Corporation develops and manufactures diagnostic testing products used in healthcare settings. Its offerings include tests and instruments for immunoassay, molecular diagnostics, clinical chemistry, and transfusion medicine, as well as rapid tests designed for point-of-care use. The company serves hospitals, clinical laboratories, blood banks, physician offices, and other healthcare providers. Its product lines include the VITROS clinical laboratory systems, ORTHO VISION blood-bank analyzers, and Sofia rapid diagnostic platforms.