QuidelOrtho Corporation $QDEL Shares Acquired by Private Management Group Inc.

Private Management Group Inc. boosted its stake in QuidelOrtho Corporation (NASDAQ:QDEL) by 13.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 720,623 shares of the company’s stock after buying an additional 85,260 shares during the period. Private Management Group Inc.’s holdings in QuidelOrtho were worth $20,768,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. AQR Capital Management LLC raised its position in shares of QuidelOrtho by 230.3% during the 1st quarter. AQR Capital Management LLC now owns 2,655,576 shares of the company’s stock worth $90,130,000 after buying an additional 1,851,590 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of QuidelOrtho by 201.6% during the second quarter. Assenagon Asset Management S.A. now owns 941,370 shares of the company’s stock valued at $27,130,000 after acquiring an additional 629,246 shares during the period. Geode Capital Management LLC increased its stake in shares of QuidelOrtho by 46.1% during the second quarter. Geode Capital Management LLC now owns 1,678,670 shares of the company’s stock valued at $48,385,000 after acquiring an additional 529,770 shares during the period. American Century Companies Inc. raised its holdings in QuidelOrtho by 42.4% during the first quarter. American Century Companies Inc. now owns 1,588,645 shares of the company’s stock worth $55,555,000 after purchasing an additional 473,094 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its position in QuidelOrtho by 570.7% in the first quarter. Paradigm Capital Management Inc. NY now owns 469,500 shares of the company’s stock worth $16,418,000 after purchasing an additional 399,500 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

Insider Buying and Selling at QuidelOrtho

In other news, CEO Brian J. Blaser purchased 23,500 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average price of $21.34 per share, for a total transaction of $501,490.00. Following the completion of the acquisition, the chief executive officer directly owned 29,533 shares of the company’s stock, valued at $630,234.22. The trade was a 389.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by company insiders.

QuidelOrtho Stock Up 14.3%

Shares of QuidelOrtho stock opened at $24.35 on Friday. QuidelOrtho Corporation has a 12-month low of $19.50 and a 12-month high of $49.45. The firm has a market capitalization of $1.65 billion, a PE ratio of -3.72 and a beta of 0.35. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average is $26.79 and its 200-day moving average is $27.96.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. The business had revenue of $699.90 million during the quarter, compared to analyst estimates of $667.45 million. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.QuidelOrtho’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Equities analysts anticipate that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, November 7th. Citigroup restated a “neutral” rating and set a $33.00 price objective (down previously from $40.00) on shares of QuidelOrtho in a research report on Tuesday, October 7th. Finally, Zacks Research cut shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $38.20.

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.