Clearline Capital LP Increases Stake in QuidelOrtho Corporation $QDEL

Clearline Capital LP boosted its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 36.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,856 shares of the company’s stock after acquiring an additional 84,283 shares during the period. Clearline Capital LP’s holdings in QuidelOrtho were worth $9,049,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Invesco Ltd. lifted its position in QuidelOrtho by 87.0% during the 3rd quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock valued at $85,604,000 after acquiring an additional 1,352,503 shares during the period. Dimensional Fund Advisors LP lifted its position in QuidelOrtho by 14.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,859,455 shares of the company’s stock valued at $84,208,000 after acquiring an additional 350,636 shares during the period. State Street Corp lifted its position in QuidelOrtho by 1.3% during the 4th quarter. State Street Corp now owns 2,704,355 shares of the company’s stock valued at $77,236,000 after acquiring an additional 35,616 shares during the period. Newtyn Management LLC lifted its position in QuidelOrtho by 58.3% during the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock valued at $79,515,000 after acquiring an additional 994,332 shares during the period. Finally, American Century Companies Inc. lifted its position in QuidelOrtho by 10.4% during the 3rd quarter. American Century Companies Inc. now owns 2,115,557 shares of the company’s stock valued at $62,303,000 after acquiring an additional 199,909 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Stock Down 7.0%

Shares of QuidelOrtho stock opened at $13.13 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.43. The stock has a market capitalization of $895.33 million, a PE ratio of -0.74 and a beta of 0.77. QuidelOrtho Corporation has a 52-week low of $9.92 and a 52-week high of $35.58. The company has a 50-day simple moving average of $12.86 and a two-hundred day simple moving average of $20.96.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.41). The firm had revenue of $619.80 million during the quarter, compared to analysts’ expectations of $665.23 million. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, analysts anticipate that QuidelOrtho Corporation will post 1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup lowered their price target on shares of QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research report on Tuesday, April 21st. Jefferies Financial Group cut shares of QuidelOrtho from a “buy” rating to a “hold” rating and lowered their price target for the company from $35.00 to $12.50 in a research report on Thursday, May 7th. Finally, Wall Street Zen cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $14.88.

QuidelOrtho Company 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.