Nuveen LLC Invests $7.75 Million in QuidelOrtho Corporation $QDEL

Key Points

• Nuveen LLC acquired 221,658 shares of QuidelOrtho Corporation, valued at approximately $7.75 million, marking a new stake in the company.
• Recent earnings revealed QuidelOrtho had an EPS of $0.12, surpassing estimates, despite a 3.6% year-over-year revenue decline.
• Analyst ratings for QuidelOrtho are mixed, with target prices varying from $26.00 to $44.00 and an overall average rating of "Hold".

Nuveen LLC acquired a new stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 221,658 shares of the company's stock, valued at approximately $7,751,000. Nuveen LLC owned approximately 0.33% of QuidelOrtho at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of QuidelOrtho in the fourth quarter valued at $43,000. True Wealth Design LLC lifted its stake in shares of QuidelOrtho by 300.7% in the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $48,000 after buying an additional 806 shares in the last quarter. State of Wyoming bought a new position in shares of QuidelOrtho in the fourth quarter valued at $164,000. Humankind Investments LLC bought a new position in shares of QuidelOrtho in the fourth quarter valued at $211,000. Finally, LPL Financial LLC bought a new position in shares of QuidelOrtho in the fourth quarter valued at $221,000. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Stock Up 2.5%

Shares of QDEL stock traded up $0.69 on Friday, hitting $28.69. The stock had a trading volume of 1,195,358 shares, compared to its average volume of 1,401,986. The business has a 50 day moving average of $27.08 and a 200 day moving average of $30.68. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -4.39 and a beta of -0.04. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 0.62. QuidelOrtho Corporation has a 12-month low of $22.05 and a 12-month high of $49.45.

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

Wall Street Analyst Weigh In

QDEL has been the topic of a number of recent research reports. UBS Group dropped their price objective on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price objective on the stock in a research note on Thursday, May 8th. Citigroup lowered their target price on shares of QuidelOrtho from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, QuidelOrtho currently has an average rating of "Hold" and a consensus price target of $42.17.

QuidelOrtho Company 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.