Vanguard Group Inc. Has $236.10 Million Stock Position in QuidelOrtho Corporation $QDEL

Key Points

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Vanguard Group Inc. lowered its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,751,611 shares of the company's stock after selling 65,801 shares during the period. Vanguard Group Inc. owned 10.01% of QuidelOrtho worth $236,104,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Voya Investment Management LLC raised its stake in QuidelOrtho by 7.7% in the 4th quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock valued at $336,000 after acquiring an additional 538 shares during the period. Yousif Capital Management LLC raised its stake in QuidelOrtho by 2.9% in the 1st quarter. Yousif Capital Management LLC now owns 25,950 shares of the company's stock valued at $907,000 after acquiring an additional 734 shares during the period. Rhumbline Advisers raised its stake in QuidelOrtho by 0.6% in the 1st quarter. Rhumbline Advisers now owns 129,025 shares of the company's stock valued at $4,512,000 after acquiring an additional 770 shares during the period. True Wealth Design LLC raised its stake in QuidelOrtho by 300.7% in the 4th 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. Finally, New York State Teachers Retirement System raised its stake in QuidelOrtho by 1.6% in the 1st 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. Institutional investors own 99.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on QDEL. Wall Street Zen cut QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. UBS Group dropped 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. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a research note on Thursday, May 8th. Finally, Citigroup dropped 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. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $42.17.

QuidelOrtho Stock Performance

NASDAQ QDEL traded up $2.24 on Friday, reaching $27.90. The stock had a trading volume of 1,749,020 shares, compared to its average volume of 1,405,976. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 0.62. The firm has a fifty day moving average of $27.11 and a two-hundred day moving average of $31.16. QuidelOrtho Corporation has a 1-year low of $22.05 and a 1-year high of $49.45. The company has a market cap of $1.89 billion, a P/E ratio of -4.27 and a beta of -0.04.

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