Bank of America Corp DE Acquires New Stake in QuidelOrtho Corporation $QDEL

Key Points

• Bank of America acquired 101,871 QuidelOrtho shares worth approximately $1.78 million during the second quarter, taking a roughly 0.15% stake. Institutional investors and hedge funds collectively own 99% of the company.
• Analyst sentiment remains bearish: QuidelOrtho has a consensus rating of “Reduce”, with three Hold and three Sell ratings and an average price target of $13.62.
• QuidelOrtho shares opened at $10.38, near their 12-month low of $9.92. The company beat quarterly EPS and revenue estimates, reporting $0.13 EPS on $630.9 million in revenue, though it posted a negative net margin of 39.2%.

Bank of America Corp DE bought a new stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 101,871 shares of the company's stock, valued at approximately $1,784,000. Bank of America Corp DE owned about 0.15% of QuidelOrtho as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Jupiter Topco LLC purchased a new stake in shares of QuidelOrtho during the second quarter valued at $508,000. Legal & General Group Plc acquired a new position in shares of QuidelOrtho in the second quarter valued at about $2,851,000. The Manufacturers Life Insurance Company acquired a new position in shares of QuidelOrtho in the second quarter valued at about $499,000. Paradigm Capital Management Inc. NY purchased a new position in shares of QuidelOrtho in the second quarter worth about $44,168,000. Finally, Quantbot Technologies LP purchased a new position in shares of QuidelOrtho in the second quarter worth about $419,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QDEL has been the subject of several research reports. Weiss Ratings restated a "sell (e+)" rating on shares of QuidelOrtho in a research note on Friday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of QuidelOrtho from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 1st. Wall Street Zen raised shares of QuidelOrtho from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Zacks Research downgraded shares of QuidelOrtho from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 12th. Finally, Citigroup upped their price target on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $13.62.

QuidelOrtho Stock Down 1.5%

QuidelOrtho stock opened at $10.38 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 0.76. The stock has a market capitalization of $711.76 million, a PE ratio of -0.67 and a beta of 0.79. The business has a 50 day simple moving average of $13.66 and a 200-day simple moving average of $14.19. QuidelOrtho Corporation has a 12 month low of $9.92 and a 12 month high of $35.58.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.18. The firm had revenue of $630.90 million for the quarter, compared to analyst estimates of $618.72 million. QuidelOrtho had a positive return on equity of 4.88% and a negative net margin of 39.20%.The business's revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. On average, analysts anticipate that QuidelOrtho Corporation will post 0.75 EPS for the current fiscal year.

QuidelOrtho Profile

QuidelOrtho Corporation NASDAQ: QDEL develops, manufactures and distributes diagnostic products and solutions used to detect and monitor disease. The company serves hospitals, clinical laboratories, physician offices, retail clinics, blood banks and other healthcare providers worldwide.

Its portfolio includes point-of-care and molecular testing systems, immunoassays, clinical chemistry and immunodiagnostic platforms, and transfusion medicine products. Key product lines include the Sofia and QuickVue systems from Quidel and the VITROS, ORTHO Vision and ORTHO Workstation platforms from Ortho Clinical Diagnostics.

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