QuidelOrtho Corporation $QDEL Holdings Lifted by NorthRock Partners LLC

NorthRock Partners LLC raised its position in QuidelOrtho Corporation (NASDAQ:QDEL) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,477 shares of the company’s stock after purchasing an additional 1,188 shares during the quarter. NorthRock Partners LLC’s holdings in QuidelOrtho were worth $878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QDEL. AQR Capital Management LLC grew its stake in QuidelOrtho by 230.3% in the first quarter. AQR Capital Management LLC now owns 2,655,576 shares of the company’s stock valued at $90,130,000 after purchasing an additional 1,851,590 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in QuidelOrtho by 201.6% in the second quarter. Assenagon Asset Management S.A. now owns 941,370 shares of the company’s stock valued at $27,130,000 after purchasing an additional 629,246 shares in the last quarter. American Century Companies Inc. grew its stake in QuidelOrtho by 42.4% in the first quarter. American Century Companies Inc. now owns 1,588,645 shares of the company’s stock valued at $55,555,000 after purchasing an additional 473,094 shares in the last quarter. Paradigm Capital Management Inc. NY grew its stake in QuidelOrtho by 570.7% in the first quarter. Paradigm Capital Management Inc. NY now owns 469,500 shares of the company’s stock valued at $16,418,000 after purchasing an additional 399,500 shares in the last quarter. Finally, Invesco Ltd. grew its stake in QuidelOrtho by 10.6% in the first quarter. Invesco Ltd. now owns 3,813,833 shares of the company’s stock valued at $133,370,000 after purchasing an additional 366,387 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

QDEL opened at $26.17 on Wednesday. The company has a market cap of $1.78 billion, a PE ratio of -4.00 and a beta of 0.27. The stock has a 50-day moving average of $27.66 and a 200-day moving average of $28.47. QuidelOrtho Corporation has a 52-week low of $22.05 and a 52-week high of $49.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.11. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The business had revenue of $613.90 million during the quarter, compared to analysts’ expectations of $612.36 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that QuidelOrtho Corporation will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on QDEL shares. Citigroup restated a “neutral” rating and issued a $33.00 target price (down previously from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. UBS Group decreased their price target on QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.80.

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.