Edgestream Partners L.P. Purchases Shares of 117,888 QuidelOrtho Corporation $QDEL

Key Points

• Edgestream Partners L.P. acquired 117,888 QuidelOrtho shares during the first quarter, valued at approximately $1.94 million and representing a 0.17% stake.
• Institutional ownership remains substantial at 99%, with several major investors—including T. Rowe Price, Invesco and Newtyn Management—recently increasing their positions.
• QuidelOrtho reported weaker-than-expected quarterly results, with a $0.04 loss per share and $619.8 million in revenue. Analysts have a consensus “Reduce” rating and an average price target of $13.62, below the stock’s reported $16.77 price.

Edgestream Partners L.P. purchased a new stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 117,888 shares of the company's stock, valued at approximately $1,937,000. Edgestream Partners L.P. owned 0.17% of QuidelOrtho at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of QuidelOrtho by 7.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,832,098 shares of the company's stock worth $337,925,000 after acquiring an additional 819,908 shares during the period. Invesco Ltd. increased its position in QuidelOrtho by 19.4% during the 4th quarter. Invesco Ltd. now owns 3,470,656 shares of the company's stock valued at $99,122,000 after purchasing an additional 563,893 shares during the period. Dimensional Fund Advisors LP increased its position in QuidelOrtho by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company's stock valued at $50,085,000 after purchasing an additional 212,481 shares during the period. State Street Corp raised its holdings in QuidelOrtho by 1.3% during the 4th quarter. State Street Corp now owns 2,704,355 shares of the company's stock worth $77,236,000 after purchasing an additional 35,616 shares during the last quarter. Finally, Newtyn Management LLC lifted its position in shares of QuidelOrtho by 58.3% in the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company's stock worth $79,515,000 after purchasing an additional 994,332 shares during the period. 99.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on QDEL shares. UBS Group reaffirmed a "neutral" rating and issued a $12.00 price objective on shares of QuidelOrtho in a research note on Thursday, May 7th. Wall Street Zen raised shares of QuidelOrtho from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. JPMorgan Chase & Co. boosted their target price on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an "underweight" rating in a report on Wednesday, July 1st. Jefferies Financial Group reaffirmed a "hold" rating on shares of QuidelOrtho in a research report on Monday, June 29th. Finally, Zacks Research upgraded QuidelOrtho from a "strong sell" rating to a "hold" rating in a report on Monday, June 15th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, QuidelOrtho currently has an average rating of "Reduce" and a consensus target price of $13.62.

QuidelOrtho Price Performance

QuidelOrtho stock opened at $16.77 on Monday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.94 and a beta of 0.68. QuidelOrtho Corporation has a 52-week low of $9.92 and a 52-week high of $35.58. The stock's 50 day moving average price is $15.37 and its two-hundred day moving average price is $18.06. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.43.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.41). The company had revenue of $619.80 million for the quarter, compared to analyst estimates of $665.23 million. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, equities analysts predict that QuidelOrtho Corporation will post 1.87 earnings per share for the current year.

QuidelOrtho Profile

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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