Bank of New York Mellon Corp Purchases New Stake in QuidelOrtho Corporation $QDEL

Key Points

• Bank of New York Mellon acquired 440,774 QuidelOrtho shares worth approximately $7.72 million, representing about 0.65% of the company. Institutional investors and hedge funds collectively own 99% of QDEL.
• Analysts maintain a cautious outlook, with three Hold and three Sell ratings, an overall “Reduce” consensus, and an average price target of $13.62.
• QuidelOrtho reported quarterly EPS of $0.13, beating estimates by $0.18, while revenue rose 2.8% year over year to $630.9 million. Despite the earnings beat, the stock opened at $13.93, near the consensus price target.

Bank of New York Mellon Corp acquired a new stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 440,774 shares of the company's stock, valued at approximately $7,720,000. Bank of New York Mellon Corp owned about 0.65% of QuidelOrtho at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State of Wyoming bought a new position in QuidelOrtho during the 2nd quarter worth approximately $359,000. GSA Capital Partners LLP bought a new stake in shares of QuidelOrtho in the 2nd quarter valued at approximately $490,000. GAMMA Investing LLC raised its position in shares of QuidelOrtho by 67.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company's stock valued at $38,000 after acquiring an additional 882 shares in the last quarter. Moody National Bank Trust Division raised its position in shares of QuidelOrtho by 1.1% during the 2nd quarter. Moody National Bank Trust Division now owns 70,748 shares of the company's stock valued at $1,239,000 after acquiring an additional 789 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in QuidelOrtho by 29.2% during the first quarter. Segall Bryant & Hamill LLC now owns 1,543,410 shares of the company's stock worth $25,358,000 after purchasing an additional 348,549 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group reaffirmed a "hold" rating on shares of QuidelOrtho in a report on Monday, June 29th. Weiss Ratings reissued a "sell (e+)" rating on shares of QuidelOrtho in a report on Friday, July 17th. UBS Group restated a "neutral" rating and issued a $12.00 price target on shares of QuidelOrtho in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an "underweight" rating in a report on Wednesday, July 1st. Finally, Wall Street Zen raised shares of QuidelOrtho from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $13.62.

QuidelOrtho Price Performance

NASDAQ QDEL opened at $13.93 on Friday. QuidelOrtho Corporation has a 52 week low of $9.92 and a 52 week high of $35.58. The company has a current ratio of 1.39, a quick ratio of 0.76 and a debt-to-equity ratio of 1.43. The stock has a market cap of $955.18 million, a price-to-earnings ratio of -0.90 and a beta of 0.68. The company has a 50-day moving average price of $16.05 and a two-hundred day moving average price of $15.60.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.18. The company had revenue of $630.90 million for the quarter, compared to analysts' expectations 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 for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Analysts forecast that QuidelOrtho Corporation will post 0.75 EPS for the current year.

About QuidelOrtho

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company's product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.

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