TD Asset Management Inc Has $14.18 Million Stock Holdings in QuidelOrtho Corporation $QDEL

Key Points

• TD Asset Management Inc reduced its stake in QuidelOrtho Corporation by 19.6%, holding approximately $14.18 million in stock after selling nearly 120,000 shares.
• Several hedge funds adjusted their holdings in QuidelOrtho, with Bfsg LLC increasing its position by 6.8% and Quarry LP increasing by 47.1%.
• QuidelOrtho's stock shows a significant fluctuation in performance, with a one-year low of $22.05 and a high of $49.45, while its latest quarterly earnings indicated a negative net margin of 16.10% despite beating EPS expectations.

TD Asset Management Inc reduced its position in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 19.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 491,890 shares of the company's stock after selling 119,970 shares during the period. TD Asset Management Inc owned 0.73% of QuidelOrtho worth $14,176,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Bfsg LLC raised its position in QuidelOrtho by 6.8% in the second quarter. Bfsg LLC now owns 5,460 shares of the company's stock worth $157,000 after acquiring an additional 347 shares during the period. Quarry LP grew its stake in QuidelOrtho by 47.1% during the first quarter. Quarry LP now owns 1,436 shares of the company's stock valued at $50,000 after acquiring an additional 460 shares in the last quarter. Yousif Capital Management LLC grew its stake in QuidelOrtho by 1.8% during the second quarter. Yousif Capital Management LLC now owns 26,428 shares of the company's stock valued at $762,000 after acquiring an additional 478 shares in the last quarter. Blue Trust Inc. grew its stake in QuidelOrtho by 46.4% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company's stock valued at $57,000 after acquiring an additional 623 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in QuidelOrtho by 9.2% in the 1st quarter. Voya Investment Management LLC now owns 8,243 shares of the company's stock worth $288,000 after buying an additional 692 shares in the last quarter. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $28.13 on Friday. QuidelOrtho Corporation has a one year low of $22.05 and a one year high of $49.45. The company's 50-day moving average is $27.90 and its 200 day moving average is $28.34. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -4.30 and a beta of 0.27. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.01 by $0.11. The company had revenue of $613.90 million for 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%. QuidelOrtho's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) EPS. Sell-side analysts expect that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Analyst Ratings Changes

QDEL has been the subject of a number of research reports. UBS Group cut their price target on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Wall Street Zen lowered shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research lowered shares of QuidelOrtho from a "hold" rating to a "strong sell" rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $33.00 target price (down from $40.00) on shares of QuidelOrtho in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $37.80.

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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