Dynamic Technology Lab Private Ltd Takes $411,000 Position in QuidelOrtho Corporation $QDEL

Key Points

• Dynamic Technology Lab Private Ltd acquired 11,748 shares of QuidelOrtho Corporation, valued at approximately $411,000, indicating growing institutional interest in the stock.
• QuidelOrtho's stock has seen an **8.4% increase**, with a current market price around $29.94, after reporting a quarterly earnings per share of $0.12, surpassing estimates.
• Analysts have mixed ratings on QuidelOrtho, with price targets adjusted downwards; UBS and Citigroup reduced their targets to $26 and $40 respectively, emphasizing a cautious outlook for the stock.

Dynamic Technology Lab Private Ltd purchased a new stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,748 shares of the company's stock, valued at approximately $411,000.

Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of QuidelOrtho during the first quarter worth $36,000. True Wealth Design LLC increased its holdings in 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 purchasing an additional 806 shares during the period. Quarry LP increased 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 during the period. State of Wyoming acquired a new stake in QuidelOrtho in the fourth quarter valued at $164,000. Finally, SYM FINANCIAL Corp bought a new stake in QuidelOrtho during the first quarter valued at $235,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Citigroup cut 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. Finally, Wall Street Zen downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $39.20.

QuidelOrtho Price Performance

Shares of QDEL stock traded up $0.80 during trading on Tuesday, hitting $29.72. The company had a trading volume of 896,868 shares, compared to its average volume of 1,306,433. The stock's 50-day moving average is $26.93 and its two-hundred day moving average is $29.65. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -4.55 and a beta of 0.14. QuidelOrtho Corporation has a 52 week low of $22.05 and a 52 week 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 company 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 revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. As a group, analysts predict that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

About QuidelOrtho

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.