Stanley Capital Management LLC Has $12.07 Million Holdings in QuidelOrtho Corporation $QDEL

Key Points

• Stanley Capital Management LLC increased its holdings in QuidelOrtho Corporation by 76.9%, now owning 345,000 shares valued at approximately $12.07 million, making QuidelOrtho the fund's 21st largest position.
• QuidelOrtho reported a quarterly EPS of $0.12, exceeding analyst estimates, while the revenue decreased by 3.6% year-over-year to $613.90 million.
• Research firms have issued mixed ratings on QuidelOrtho, with current consensus rating labeled as "Hold" and a target price of $39.20, down from previous estimates by UBS and Citigroup.

Stanley Capital Management LLC boosted its position in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 76.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,000 shares of the company's stock after buying an additional 150,000 shares during the quarter. QuidelOrtho makes up about 2.4% of Stanley Capital Management LLC's holdings, making the stock its 21st biggest position. Stanley Capital Management LLC owned about 0.51% of QuidelOrtho worth $12,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in QuidelOrtho by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 326,996 shares of the company's stock valued at $11,435,000 after buying an additional 7,788 shares during the last quarter. Yousif Capital Management LLC grew 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 buying an additional 734 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in QuidelOrtho by 108.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,012 shares of the company's stock valued at $2,483,000 after buying an additional 36,867 shares during the last quarter. GAMMA Investing LLC grew its stake in QuidelOrtho by 3,377.0% in the 1st quarter. GAMMA Investing LLC now owns 85,047 shares of the company's stock valued at $2,974,000 after buying an additional 82,601 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in QuidelOrtho by 97.2% in the 4th quarter. Captrust Financial Advisors now owns 10,288 shares of the company's stock valued at $458,000 after buying an additional 5,071 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QDEL. UBS Group lowered their target price on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Citigroup reduced their price target 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. Finally, Wall Street Zen downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $39.20.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock opened at $29.94 on Friday. 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 fifty-two week low of $22.05 and a fifty-two week high of $49.45. The firm has a fifty day moving average price of $26.97 and a two-hundred day moving average price of $29.96. The company has a market cap of $2.03 billion, a PE ratio of -4.58 and a beta of 0.14.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.11. The company had revenue of $613.90 million during the quarter, compared to the consensus estimate 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 for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS. Analysts expect that QuidelOrtho Corporation will post 2.3 EPS 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.

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