Empowered Funds LLC Purchases Shares of 267,989 QuidelOrtho Corporation $QDEL

Empowered Funds LLC acquired a new position in shares of QuidelOrtho Corporation (NASDAQ:QDEL) in the second quarter, Holdings Channel reports. The fund acquired 267,989 shares of the company’s stock, valued at approximately $4,694,000.

Several other institutional investors have also made changes to their positions in QDEL. Royal Bank of Canada raised its position in QuidelOrtho by 1,218.7% in the first quarter. Royal Bank of Canada now owns 80,193 shares of the company’s stock worth $2,803,000 after purchasing an additional 74,112 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in QuidelOrtho by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,398 shares of the company’s stock worth $7,987,000 after purchasing an additional 21,968 shares during the period. Focus Partners Wealth boosted its holdings in QuidelOrtho by 210.9% during the first quarter. Focus Partners Wealth now owns 20,454 shares of the company’s stock valued at $715,000 after purchasing an additional 13,876 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in QuidelOrtho during the second quarter valued at approximately $1,313,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of QuidelOrtho by 250.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,230 shares of the company’s stock valued at $93,000 after purchasing an additional 2,309 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QDEL. Wall Street Zen raised QuidelOrtho from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research note on Friday, July 17th. Jefferies Financial Group reiterated a “hold” rating on shares of QuidelOrtho in a research report on Monday, June 29th. Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. increased their price objective on QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, QuidelOrtho presently has a consensus rating of “Reduce” and a consensus price target of $13.62.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $14.43 on Tuesday. The firm has a market cap of $989.47 million, a PE ratio of -0.94 and a beta of 0.68. QuidelOrtho Corporation has a 12 month low of $9.92 and a 12 month high of $35.58. The company has a quick ratio of 0.76, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average price is $15.97 and its two-hundred day moving average price is $15.84.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.18. The company had revenue of $630.90 million during the quarter, compared to analyst estimates of $618.72 million. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. On average, equities analysts anticipate that QuidelOrtho Corporation will post 0.75 EPS for the current fiscal year.

QuidelOrtho Profile

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.