Goodman Financial Corp Has $11.31 Million Holdings in QuidelOrtho Corporation (NASDAQ:QDEL)

Key Points

• Goodman Financial Corp increased its stake in QuidelOrtho Corporation by 5.4% during the first quarter, now owning approximately 0.48% of the company, valued at around $11.3 million.
• QuidelOrtho's stock has faced recent ratings fluctuations, with Jefferies raising its rating to "buy" while JPMorgan lowered it to "underweight" with a price target of $25.00.
• QuidelOrtho reported $0.74 EPS for the latest quarter, surpassing estimates but showing a 2.6% year-over-year revenue decline.

Goodman Financial Corp grew its stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 323,313 shares of the company's stock after purchasing an additional 16,529 shares during the quarter. QuidelOrtho comprises approximately 2.4% of Goodman Financial Corp's holdings, making the stock its 25th largest holding. Goodman Financial Corp owned 0.48% of QuidelOrtho worth $11,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Voya Investment Management LLC increased its stake in QuidelOrtho by 7.7% in the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock valued at $336,000 after purchasing an additional 538 shares in the last quarter. Yousif Capital Management LLC raised its stake in QuidelOrtho by 2.9% during the 1st quarter. Yousif Capital Management LLC now owns 25,950 shares of the company's stock worth $907,000 after buying an additional 734 shares during the period. Rhumbline Advisers lifted its holdings in QuidelOrtho by 0.6% during the first quarter. Rhumbline Advisers now owns 129,025 shares of the company's stock worth $4,512,000 after acquiring an additional 770 shares in the last quarter. True Wealth Design LLC lifted its holdings in QuidelOrtho by 300.7% during the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock worth $48,000 after acquiring an additional 806 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in QuidelOrtho by 1.6% in the first quarter. New York State Teachers Retirement System now owns 56,900 shares of the company's stock valued at $1,990,000 after acquiring an additional 900 shares during the period. 99.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on QDEL shares. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price objective on the stock in a report on Thursday, May 8th. Wall Street Zen lowered shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. UBS Group lowered their price objective on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $44.33.

QuidelOrtho Stock Up 5.2%

NASDAQ:QDEL traded up $1.20 during trading hours on Monday, reaching $24.01. 766,701 shares of the stock were exchanged, compared to its average volume of 1,307,119. The stock has a market cap of $1.62 billion, a PE ratio of -4.85 and a beta of -0.04. QuidelOrtho Corporation has a twelve month low of $22.05 and a twelve month high of $49.45. The firm has a 50 day moving average of $28.63 and a 200 day moving average of $33.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.20 and a quick ratio of 0.66.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.61 by $0.13. QuidelOrtho had a negative net margin of 12.07% and a positive return on equity of 4.71%. The business had revenue of $692.80 million during the quarter, compared to analysts' expectations of $694.97 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm's revenue was down 2.6% on a year-over-year basis. On average, equities analysts expect that QuidelOrtho Corporation will post 2.3 earnings per share for the current 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.