SG Americas Securities LLC Makes New Investment in QuidelOrtho Corporation $QDEL

SG Americas Securities LLC purchased a new stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL) during the second quarter, Holdings Channel reports. The institutional investor purchased 16,884 shares of the company’s stock, valued at approximately $487,000.

Other hedge funds have also recently bought and sold shares of the company. Bfsg LLC grew its stake in QuidelOrtho by 6.8% during the 2nd quarter. Bfsg LLC now owns 5,460 shares of the company’s stock valued at $157,000 after acquiring an additional 347 shares in the last quarter. Quarry LP boosted its holdings in shares of QuidelOrtho by 47.1% during the first quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after purchasing an additional 460 shares during the period. Yousif Capital Management LLC grew its position in QuidelOrtho by 1.8% during the second quarter. Yousif Capital Management LLC now owns 26,428 shares of the company’s stock valued at $762,000 after purchasing an additional 478 shares in the last quarter. Blue Trust Inc. grew its position in QuidelOrtho by 46.4% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $57,000 after purchasing an additional 623 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in QuidelOrtho by 9.2% in the 1st quarter. Voya Investment Management LLC now owns 8,243 shares of the company’s stock valued at $288,000 after buying an additional 692 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brian J. Blaser acquired 23,500 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average cost of $21.34 per share, with a total value of $501,490.00. Following the completion of the acquisition, the chief executive officer owned 29,533 shares of the company’s stock, valued at $630,234.22. This trade represents a 389.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joseph M. Busky purchased 4,770 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average cost of $26.06 per share, for a total transaction of $124,306.20. Following the purchase, the chief financial officer owned 6,920 shares in the company, valued at $180,335.20. This represents a 221.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.79% of the stock is currently owned by insiders.

QuidelOrtho Price Performance

NASDAQ QDEL opened at $27.50 on Thursday. The stock has a 50-day simple moving average of $26.69 and a 200 day simple moving average of $27.86. QuidelOrtho Corporation has a twelve month low of $19.50 and a twelve month high of $49.45. The stock has a market capitalization of $1.87 billion, a PE ratio of -4.20 and a beta of 0.35. 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 released its earnings results on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.51 by $0.29. The firm had revenue of $699.90 million during the quarter, compared to analysts’ expectations of $667.45 million. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Research analysts anticipate that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Analysts Set New Price Targets

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

QuidelOrtho Profile

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.