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 stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,874 shares of the company's stock, valued at approximately $380,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its stake in QuidelOrtho by 1.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,447,188 shares of the company's stock valued at $400,309,000 after acquiring an additional 208,362 shares during the period. Invesco Ltd. lifted its stake in QuidelOrtho by 10.6% during the 1st quarter. Invesco Ltd. now owns 3,813,833 shares of the company's stock valued at $133,370,000 after acquiring an additional 366,387 shares during the period. American Century Companies Inc. lifted its stake in QuidelOrtho by 42.4% during the 1st quarter. American Century Companies Inc. now owns 1,588,645 shares of the company's stock valued at $55,555,000 after acquiring an additional 473,094 shares during the period. Segall Bryant & Hamill LLC lifted its stake in QuidelOrtho by 23.1% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,288,718 shares of the company's stock valued at $45,066,000 after acquiring an additional 242,069 shares during the period. Finally, Private Management Group Inc. lifted its stake in QuidelOrtho by 3.2% during the 1st quarter. Private Management Group Inc. now owns 635,363 shares of the company's stock valued at $22,219,000 after acquiring an additional 19,899 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QDEL has been the subject of several recent research reports. UBS Group cut their target price on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Wall Street Zen lowered shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Citigroup cut their target price 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. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $39.20.

QuidelOrtho Price Performance

NASDAQ QDEL traded up $2.31 on Thursday, hitting $29.94. The company had a trading volume of 1,746,529 shares, compared to its average volume of 1,036,632. The company has a market capitalization of $2.03 billion, a PE ratio of -4.58 and a beta of 0.14. The company's fifty day moving average price is $26.97 and its 200-day moving average price is $29.96. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 0.62. QuidelOrtho Corporation has a 12-month low of $22.05 and a 12-month high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.01 by $0.11. The company had revenue of $613.90 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned ($0.07) EPS. As a group, analysts predict that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

QuidelOrtho Company 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.