Yousif Capital Management LLC Boosts Stock Position in QuidelOrtho Corporation (NASDAQ:QDEL)

Yousif Capital Management LLC lifted its position in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,950 shares of the company’s stock after purchasing an additional 734 shares during the period. Yousif Capital Management LLC’s holdings in QuidelOrtho were worth $907,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QDEL. Quarry LP purchased a new stake in QuidelOrtho in the fourth quarter worth about $43,000. True Wealth Design LLC increased its stake in shares of QuidelOrtho by 300.7% during the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $48,000 after purchasing an additional 806 shares in the last quarter. Blue Trust Inc. increased its stake in shares of QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after purchasing an additional 844 shares in the last quarter. State of Wyoming bought a new position in shares of QuidelOrtho during the fourth quarter valued at approximately $164,000. Finally, Sterling Capital Management LLC increased its stake in shares of QuidelOrtho by 75.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,726 shares of the company’s stock valued at $166,000 after purchasing an additional 1,601 shares in the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QDEL. Jefferies Financial Group raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Thursday, May 8th. UBS Group decreased their target price on shares of QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen raised shares of QuidelOrtho from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

QuidelOrtho Stock Performance

Shares of NASDAQ:QDEL opened at $28.33 on Thursday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -5.70 and a beta of 0.10. QuidelOrtho Corporation has a 12 month low of $23.77 and a 12 month high of $49.45. The firm’s 50-day moving average is $29.54 and its 200 day moving average is $36.56. The company has a current ratio of 1.20, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.13. QuidelOrtho had a negative net margin of 12.07% and a positive return on equity of 4.71%. The company had revenue of $692.80 million during the quarter, compared to analysts’ expectations of $694.97 million. During the same period in the previous year, the company earned $0.44 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Research analysts predict that QuidelOrtho Corporation will post 2.3 EPS for the current year.

About QuidelOrtho

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.