Empowered Funds LLC Purchases Shares of 267,989 QuidelOrtho Corporation $QDEL

Key Points

• Empowered Funds LLC acquired 267,989 QuidelOrtho shares worth approximately $4.7 million during the second quarter, giving it a 0.39% stake. Institutional investors and hedge funds collectively own 99% of the company.
• Analyst sentiment remains negative: QuidelOrtho has an average “Reduce” rating and a $13.62 average price target, with three analysts rating it Hold and three rating it Sell.
• QuidelOrtho reported quarterly revenue of $630.9 million and adjusted earnings of $0.13 per share, beating estimates, while revenue rose 2.8% year over year. The stock opened at $14.43, near the analysts’ average target.

Empowered Funds LLC purchased a new stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 267,989 shares of the company's stock, valued at approximately $4,694,000. Empowered Funds LLC owned 0.39% of QuidelOrtho as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of QDEL. Global Retirement Partners LLC grew its stake in QuidelOrtho by 3,691.7% in the 4th quarter. Global Retirement Partners LLC now owns 910 shares of the company's stock valued at $26,000 after buying an additional 886 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in QuidelOrtho by 50.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company's stock worth $31,000 after acquiring an additional 362 shares during the period. GAMMA Investing LLC lifted its position in QuidelOrtho by 67.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company's stock worth $38,000 after acquiring an additional 882 shares during the last quarter. Larson Financial Group LLC lifted its position in QuidelOrtho by 322.2% during the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the company's stock worth $39,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in QuidelOrtho during the second quarter valued at about $56,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on QDEL shares. JPMorgan Chase & Co. raised their price target on QuidelOrtho from $11.00 to $12.00 and gave the company an "underweight" rating in a research report on Wednesday, July 1st. Weiss Ratings restated a "sell (e+)" rating on shares of QuidelOrtho in a research note on Friday, July 17th. Jefferies Financial Group restated a "hold" rating on shares of QuidelOrtho in a research note on Monday, June 29th. UBS Group reaffirmed a "neutral" rating and issued a $12.00 price target on shares of QuidelOrtho in a research report on Thursday, May 7th. Finally, Zacks Research lowered QuidelOrtho from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 12th. Three 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 stock presently has an average rating of "Reduce" and an average price target of $13.62.

QuidelOrtho Stock Performance

NASDAQ:QDEL opened at $14.43 on Tuesday. The firm's 50-day moving average is $15.97 and its 200-day moving average is $15.84. QuidelOrtho Corporation has a 52-week low of $9.92 and a 52-week high of $35.58. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.76 and a current ratio of 1.39. The company has a market cap of $989.47 million, a price-to-earnings ratio of -0.94 and a beta of 0.68.

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