Goodman Financial Corp Raises Stock 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 increased its position in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 323,313 shares of the company's stock after acquiring an additional 16,529 shares during the quarter. QuidelOrtho makes up approximately 2.4% of Goodman Financial Corp's holdings, making the stock its 25th biggest holding. Goodman Financial Corp owned approximately 0.48% of QuidelOrtho worth $11,306,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in QuidelOrtho by 75.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock worth $166,000 after buying an additional 1,601 shares during the period. Principal Financial Group Inc. lifted its stake in shares of QuidelOrtho by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 326,996 shares of the company's stock worth $11,435,000 after acquiring an additional 7,788 shares during the period. Yousif Capital Management LLC lifted its stake in QuidelOrtho by 2.9% during the first quarter. Yousif Capital Management LLC now owns 25,950 shares of the company's stock valued at $907,000 after purchasing an additional 734 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of QuidelOrtho by 108.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 71,012 shares of the company's stock valued at $2,483,000 after acquiring an additional 36,867 shares during the period. Finally, Northern Trust Corp increased its stake in shares of QuidelOrtho by 36.2% during the 4th quarter. Northern Trust Corp now owns 431,710 shares of the company's stock worth $19,233,000 after purchasing an additional 114,850 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Price Performance

QDEL traded down $0.21 during midday trading on Friday, hitting $22.81. The stock had a trading volume of 1,600,728 shares, compared to its average volume of 1,360,125. The company has a market cap of $1.54 billion, a P/E ratio of 10.61 and a beta of -0.03. The business has a fifty day moving average of $28.63 and a 200 day moving average of $33.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.66 and a current ratio of 1.20. QuidelOrtho Corporation has a 1 year low of $22.05 and a 1 year high of $49.45.

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

Wall Street Analyst Weigh In

QDEL has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price objective on the stock in a research note 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. Finally, UBS Group lowered their target price on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, QuidelOrtho currently has an average rating of "Hold" and an average price target of $44.33.

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.