88,187 Shares in QuidelOrtho Corporation $QDEL Bought by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB purchased 88,187 shares of QuidelOrtho Corporation, valued at approximately $2.6 million, representing a stake of about 0.13% as of the latest SEC filing.
• QuidelOrtho reported $0.12 EPS for the last quarter, beating expectations, but experienced a 3.6% decline in quarterly revenue compared to the same period last year.
• Recent analysts’ reports indicate a mixed outlook for QuidelOrtho, with ratings ranging from a "strong sell" to "buy," and a consensus target price of $37.80.

Nordea Investment Management AB purchased a new stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 88,187 shares of the company's stock, valued at approximately $2,609,000. Nordea Investment Management AB owned approximately 0.13% of QuidelOrtho at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bfsg LLC increased its holdings in shares of QuidelOrtho by 6.8% in 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 during the last quarter. Quarry LP boosted its holdings in QuidelOrtho by 47.1% in the first quarter. Quarry LP now owns 1,436 shares of the company's stock valued at $50,000 after purchasing an additional 460 shares in the last quarter. Yousif Capital Management LLC raised its holdings in QuidelOrtho by 1.8% during the second quarter. Yousif Capital Management LLC now owns 26,428 shares of the company's stock worth $762,000 after purchasing an additional 478 shares in the last quarter. Blue Trust Inc. boosted its stake in QuidelOrtho by 46.4% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company's stock valued at $57,000 after acquiring an additional 623 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of QuidelOrtho by 9.2% during the first quarter. Voya Investment Management LLC now owns 8,243 shares of the company's stock worth $288,000 after purchasing an additional 692 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Price Performance

Shares of NASDAQ:QDEL opened at $29.80 on Thursday. QuidelOrtho Corporation has a 52 week low of $22.05 and a 52 week high of $49.45. The company has a 50-day moving average price of $28.16 and a 200 day moving average price of $28.33. The company has a market cap of $2.02 billion, a P/E ratio of -4.56 and a beta of 0.27. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on QDEL shares. Zacks Research downgraded QuidelOrtho from a "hold" rating to a "strong sell" rating in a report on Monday, October 13th. Wall Street Zen downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. UBS Group reduced their target price on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Citigroup reissued a "neutral" rating and set a $33.00 price target (down previously from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, QuidelOrtho currently has an average rating of "Reduce" and a consensus target price of $37.80.

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.

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