QuidelOrtho Corporation $QDEL Stock Holdings Boosted by Gagnon Advisors LLC

Gagnon Advisors LLC raised its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 79.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 432,186 shares of the company’s stock after purchasing an additional 191,089 shares during the period. QuidelOrtho accounts for 2.5% of Gagnon Advisors LLC’s holdings, making the stock its 18th biggest position. Gagnon Advisors LLC’s holdings in QuidelOrtho were worth $4,555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of QDEL. Moody National Bank Trust Division grew its position in shares of QuidelOrtho by 1.1% in the second quarter. Moody National Bank Trust Division now owns 70,748 shares of the company’s stock valued at $1,239,000 after purchasing an additional 789 shares during the period. GAMMA Investing LLC raised its position in shares of QuidelOrtho by 67.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company’s stock worth $38,000 after purchasing an additional 882 shares during the last quarter. Bfsg LLC raised its position in shares of QuidelOrtho by 6.0% during the 3rd quarter. Bfsg LLC now owns 17,550 shares of the company’s stock worth $185,000 after purchasing an additional 995 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of QuidelOrtho by 8.8% during the 3rd quarter. Yousif Capital Management LLC now owns 21,982 shares of the company’s stock worth $232,000 after purchasing an additional 1,780 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in QuidelOrtho by 161.3% in the 2nd quarter. Allworth Financial LP now owns 3,209 shares of the company’s stock valued at $56,000 after buying an additional 1,981 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

QuidelOrtho Stock Down 10.8%

NASDAQ QDEL opened at $10.62 on Friday. The business has a fifty day moving average price of $12.37 and a 200 day moving average price of $15.60. QuidelOrtho Corporation has a one year low of $9.92 and a one year high of $35.58. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.75 and a current ratio of 1.36. The company has a market cap of $728.64 million, a P/E ratio of 13.85 and a beta of 0.77.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. QuidelOrtho had a positive return on equity of 3.22% and a negative net margin of 14.24%. The company had revenue of $618.90 million for the quarter, compared to analyst estimates of $627.83 million. During the same quarter last year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. Research analysts anticipate that QuidelOrtho Corporation will post 0.66 EPS for the current fiscal year.

QuidelOrtho Company 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.