67,619 Shares in QuidelOrtho Corporation $QDEL Acquired by Birchview Capital LP

Key Points

• Birchview Capital LP acquired 67,619 shares of QuidelOrtho Corporation, valued at approximately $2.365 million, making it the company's 11th largest position.
• QuidelOrtho reported earnings of $0.12 per share for the last quarter, surpassing estimates, but its revenue decreased by 3.6% year-over-year.
• Analysts have mixed opinions on QuidelOrtho, with four rated as "Buy," two as "Hold," and one as "Sell," while the consensus price target is $42.17.

Birchview Capital LP purchased a new stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 67,619 shares of the company's stock, valued at approximately $2,365,000. QuidelOrtho accounts for about 2.0% of Birchview Capital LP's holdings, making the stock its 11th largest holding. Birchview Capital LP owned approximately 0.10% of QuidelOrtho at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of QDEL. Quarry LP grew its position 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 buying an additional 460 shares in the last quarter. Voya Investment Management LLC grew its position in shares of QuidelOrtho by 7.7% during the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock worth $336,000 after buying an additional 538 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of QuidelOrtho by 2.9% during the first quarter. Yousif Capital Management LLC now owns 25,950 shares of the company's stock worth $907,000 after buying an additional 734 shares in the last quarter. Rhumbline Advisers grew its position in shares of QuidelOrtho by 0.6% during the first quarter. Rhumbline Advisers now owns 129,025 shares of the company's stock worth $4,512,000 after buying an additional 770 shares in the last quarter. Finally, True Wealth Design LLC grew its position in shares of QuidelOrtho by 300.7% during the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock worth $48,000 after buying an additional 806 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Stock Performance

Shares of NASDAQ QDEL traded up $0.89 during midday trading on Friday, reaching $28.68. 971,432 shares of the company traded hands, compared to its average volume of 1,114,383. QuidelOrtho Corporation has a 52 week low of $22.05 and a 52 week high of $49.45. The stock has a 50-day moving average price of $27.06 and a 200 day moving average price of $30.23. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 0.62. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -4.39 and a beta of 0.14.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QDEL. UBS Group decreased their price target on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Citigroup decreased their price objective 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. Three research 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. According to data from MarketBeat, QuidelOrtho presently has a consensus rating of "Hold" and a consensus price target of $39.20.

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.