Tejara Capital Ltd Has $3.69 Million Stake in QuidelOrtho Corporation $QDEL

Key Points

• Tejara Capital Ltd significantly increased its stake in QuidelOrtho Corporation by 118.8%, now holding approximately 1.4% of the company’s shares.
• QuidelOrtho reported earnings of $0.12 per share for the last quarter, exceeding expectations, but noted a 3.6% decline in revenue year-over-year.
• Analysts have mixed ratings for QuidelOrtho, with an average target price of $42.17, reflecting a range of buy, hold, and sell positions.

Tejara Capital Ltd grew its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 118.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,417 shares of the company's stock after purchasing an additional 57,247 shares during the period. QuidelOrtho makes up 1.4% of Tejara Capital Ltd's portfolio, making the stock its 19th biggest holding. Tejara Capital Ltd owned 0.16% of QuidelOrtho worth $3,686,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in QDEL. Russell Investments Group Ltd. boosted its holdings in QuidelOrtho by 50.3% during the first quarter. Russell Investments Group Ltd. now owns 40,499 shares of the company's stock worth $1,416,000 after buying an additional 13,558 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in QuidelOrtho by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 208,990 shares of the company's stock worth $7,308,000 after buying an additional 44,776 shares in the last quarter. Nuveen LLC bought a new stake in QuidelOrtho during the first quarter worth approximately $7,751,000. Invesco Ltd. boosted its stake in shares of QuidelOrtho by 10.6% during the 1st quarter. Invesco Ltd. now owns 3,813,833 shares of the company's stock worth $133,370,000 after acquiring an additional 366,387 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of QuidelOrtho by 215.2% during the 1st quarter. Deutsche Bank AG now owns 358,889 shares of the company's stock worth $12,550,000 after acquiring an additional 245,033 shares in the last quarter. Institutional investors own 99.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on QDEL. Wall Street Zen lowered QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. UBS Group decreased their price target on QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Jefferies Financial Group upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price for the company in a report on Thursday, May 8th. Finally, Citigroup decreased 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. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, QuidelOrtho currently has a consensus rating of "Hold" and an average price target of $42.17.

QuidelOrtho Stock Down 1.5%

Shares of QDEL stock traded down $0.41 during trading on Wednesday, hitting $26.34. 846,788 shares of the company were exchanged, compared to its average volume of 1,478,295. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -4.03 and a beta of -0.04. The business's 50-day simple moving average is $27.22 and its 200 day simple moving average is $31.47. QuidelOrtho Corporation has a twelve month low of $22.05 and a twelve month high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted 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 business had revenue of $613.90 million during the quarter, compared to analysts' expectations 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 quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted ($0.07) earnings per share. As a group, analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal 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.