QuidelOrtho Corporation $QDEL Stake Cut by Savant Capital LLC

Savant Capital LLC cut its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 22.5% in the second quarter, HoldingsChannel reports. The fund owned 26,911 shares of the company’s stock after selling 7,825 shares during the quarter. Savant Capital LLC’s holdings in QuidelOrtho were worth $776,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in QDEL. Teacher Retirement System of Texas acquired a new stake in shares of QuidelOrtho during the first quarter worth approximately $344,000. Cerity Partners LLC lifted its position in QuidelOrtho by 222.4% in the 1st quarter. Cerity Partners LLC now owns 90,808 shares of the company’s stock worth $3,176,000 after buying an additional 62,644 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of QuidelOrtho by 25.4% during the 1st quarter. New York State Common Retirement Fund now owns 42,845 shares of the company’s stock valued at $1,498,000 after buying an additional 8,689 shares during the period. CWM LLC grew its holdings in shares of QuidelOrtho by 159.1% during the 1st quarter. CWM LLC now owns 87,966 shares of the company’s stock valued at $3,076,000 after acquiring an additional 54,017 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of QuidelOrtho by 111.7% in the first quarter. Victory Capital Management Inc. now owns 67,528 shares of the company’s stock worth $2,361,000 after acquiring an additional 35,631 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on QDEL. Citigroup reissued a “neutral” rating and set a $33.00 price objective (down previously from $40.00) on shares of QuidelOrtho in a research report on Tuesday, October 7th. JPMorgan Chase & Co. reduced their price target on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, November 7th. UBS Group boosted their price target on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $38.20.

QuidelOrtho Stock Down 3.8%

QDEL opened at $21.34 on Friday. The firm has a market cap of $1.45 billion, a P/E ratio of -3.26 and a beta of 0.35. 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 business has a 50 day moving average price of $27.47 and a 200 day moving average price of $28.19. QuidelOrtho Corporation has a twelve month low of $19.50 and a twelve month high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.51 by $0.29. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The company had revenue of $699.90 million for the quarter, compared to the consensus estimate of $667.45 million. During the same quarter last year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Research analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current year.

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.