Focus Partners Advisor Solutions LLC Invests $380,000 in QuidelOrtho Corporation $QDEL

Key Points

• Focus Partners Advisor Solutions LLC has invested approximately $380,000 in QuidelOrtho Corporation by acquiring 10,874 shares.
• QuidelOrtho's stock has been rated as a "hold" by several analysts, with an average target price of $39.20.
• In its recent earnings report, QuidelOrtho posted a positive EPS of $0.12, beating analysts' expectations, but reported a 3.6% decline in revenue year-over-year.

Focus Partners Advisor Solutions LLC acquired a new position in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,874 shares of the company's stock, valued at approximately $380,000.

A number of other institutional investors have also made changes to their positions in QDEL. Summit Securities Group LLC bought a new position in QuidelOrtho during the first quarter valued at about $36,000. True Wealth Design LLC increased its stake in QuidelOrtho by 300.7% during the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $48,000 after acquiring an additional 806 shares during the period. Quarry LP increased its stake in QuidelOrtho by 47.1% during the first quarter. Quarry LP now owns 1,436 shares of the company's stock valued at $50,000 after acquiring an additional 460 shares during the period. State of Wyoming bought a new position in QuidelOrtho during the fourth quarter valued at about $164,000. Finally, Humankind Investments LLC bought a new position in QuidelOrtho during the fourth quarter valued at about $211,000. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Trading Up 3.2%

QDEL stock opened at $28.68 on Friday. QuidelOrtho Corporation has a 1-year low of $22.05 and a 1-year high of $49.45. The firm has a market cap of $1.95 billion, a P/E ratio of -4.39 and a beta of 0.14. The business's 50 day moving average is $27.06 and its 200-day moving average is $30.31. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.11. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The business had revenue of $613.90 million for the quarter, compared to analyst estimates of $612.36 million. During the same period in the prior year, the company earned ($0.07) EPS. QuidelOrtho's revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts anticipate that QuidelOrtho Corporation will post 2.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen lowered QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. UBS Group lowered their price target on QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Finally, Citigroup lowered their price target on QuidelOrtho from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, QuidelOrtho presently has an average rating of "Hold" and a consensus target price of $39.20.

QuidelOrtho Profile

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.

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