Bank of New York Mellon Corp Has $12.35 Million Position in QuidelOrtho Corporation $QDEL

Bank of New York Mellon Corp increased its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 428,432 shares of the company’s stock after acquiring an additional 12,668 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.63% of QuidelOrtho worth $12,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QDEL. Summit Securities Group LLC bought a new position in shares of QuidelOrtho during the 1st quarter worth about $36,000. Quarry LP raised its stake in QuidelOrtho by 47.1% during the 1st quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after buying an additional 460 shares during the period. Blue Trust Inc. boosted its holdings in QuidelOrtho by 46.4% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $57,000 after acquiring an additional 623 shares in the last quarter. Bfsg LLC grew its stake in QuidelOrtho by 6.8% in the second quarter. Bfsg LLC now owns 5,460 shares of the company’s stock valued at $157,000 after acquiring an additional 347 shares during the period. Finally, SYM FINANCIAL Corp bought a new stake in shares of QuidelOrtho during the first quarter valued at approximately $235,000. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Stock Up 0.9%

QuidelOrtho stock opened at $21.28 on Wednesday. QuidelOrtho Corporation has a fifty-two week low of $19.50 and a fifty-two week high of $49.45. 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 firm’s 50-day simple moving average is $27.18 and its 200 day simple moving average is $28.08. The stock has a market cap of $1.45 billion, a PE ratio of -3.25 and a beta of 0.35.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.51 by $0.29. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The firm had revenue of $699.90 million for the quarter, compared to analysts’ expectations of $667.45 million. During the same quarter last year, the firm earned $0.85 EPS. The company’s quarterly revenue 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 predict that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Analysts Set New Price Targets

QDEL has been the topic of a number of recent research reports. UBS Group increased their target price on QuidelOrtho from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. reduced their price objective on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Wall Street Zen cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, QuidelOrtho has an average rating of “Reduce” and an average target price of $38.20.

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.