Squarepoint Ops LLC Purchases Shares of 23,774 QuidelOrtho Corporation $QDEL

Squarepoint Ops LLC acquired a new position in QuidelOrtho Corporation (NASDAQ:QDEL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,774 shares of the company’s stock, valued at approximately $685,000.

A number of other large investors also recently modified their holdings of QDEL. Russell Investments Group Ltd. grew its holdings in QuidelOrtho by 50.3% during the first quarter. Russell Investments Group Ltd. now owns 40,499 shares of the company’s stock worth $1,416,000 after buying an additional 13,558 shares in the last quarter. Northern Trust Corp grew its stake in shares of QuidelOrtho by 1.0% in the 1st quarter. Northern Trust Corp now owns 435,813 shares of the company’s stock worth $15,240,000 after acquiring an additional 4,103 shares in the last quarter. Jump Financial LLC raised its holdings in shares of QuidelOrtho by 64.9% in the first quarter. Jump Financial LLC now owns 114,330 shares of the company’s stock valued at $3,998,000 after purchasing an additional 45,017 shares during the last quarter. Ieq Capital LLC lifted its position in shares of QuidelOrtho by 183.5% during the first quarter. Ieq Capital LLC now owns 236,244 shares of the company’s stock valued at $8,261,000 after purchasing an additional 152,927 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in QuidelOrtho during the first quarter worth about $240,000. Institutional investors own 99.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on QDEL shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday, November 7th. Citigroup reissued a “neutral” rating and issued a $33.00 price objective (down previously from $40.00) on shares of QuidelOrtho in a research report on Tuesday, October 7th. UBS Group raised their target price on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Zacks Research cut 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, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $38.20.

QuidelOrtho Stock Performance

Shares of QDEL opened at $28.59 on Wednesday. QuidelOrtho Corporation has a 1 year low of $19.50 and a 1 year high of $49.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.78 and a quick ratio of 0.98. The stock’s fifty day moving average price is $26.62 and its two-hundred day moving average price is $27.38. The firm has a market cap of $1.94 billion, a PE ratio of -1.68 and a beta of 0.58.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.29. QuidelOrtho had a positive return on equity of 5.75% and a negative net margin of 42.53%.The company had revenue of $699.90 million during the quarter, compared to the consensus estimate of $667.45 million. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’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. On average, equities research analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Insider Activity

In other QuidelOrtho news, CFO Joseph M. Busky purchased 4,770 shares of the stock in a transaction dated Monday, November 24th. The shares were bought at an average price of $26.06 per share, with a total value of $124,306.20. Following the completion of the transaction, the chief financial officer directly owned 6,920 shares in the company, valued at approximately $180,335.20. This trade represents a 221.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian J. Blaser acquired 23,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average cost of $21.34 per share, with a total value of $501,490.00. Following the completion of the acquisition, the chief executive officer owned 29,533 shares in the company, valued at $630,234.22. This trade represents a 389.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 29,390 shares of company stock valued at $657,340 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

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.