Campbell & CO Investment Adviser LLC Invests $694,000 in QuidelOrtho Corporation $QDEL

Campbell & CO Investment Adviser LLC bought a new stake in QuidelOrtho Corporation (NASDAQ:QDEL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,567 shares of the company’s stock, valued at approximately $694,000.

A number of other institutional investors have also added to or reduced their stakes in QDEL. Rhumbline Advisers raised its stake in QuidelOrtho by 34.3% in the 2nd quarter. Rhumbline Advisers now owns 173,267 shares of the company’s stock valued at $4,994,000 after acquiring an additional 44,242 shares during the period. Rice Hall James & Associates LLC acquired a new position in shares of QuidelOrtho in the third quarter valued at $7,625,000. Clear Harbor Asset Management LLC raised its position in shares of QuidelOrtho by 147.5% in the second quarter. Clear Harbor Asset Management LLC now owns 34,186 shares of the company’s stock valued at $985,000 after purchasing an additional 20,374 shares during the period. Lightrock Netherlands B.V. lifted its stake in shares of QuidelOrtho by 27.8% during the 2nd quarter. Lightrock Netherlands B.V. now owns 466,000 shares of the company’s stock worth $13,430,000 after buying an additional 101,423 shares during the last quarter. Finally, Nordea Investment Management AB bought a new stake in shares of QuidelOrtho during the 2nd quarter worth about $2,609,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, CEO Brian J. Blaser bought 23,500 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average cost of $21.34 per share, for a total transaction of $501,490.00. Following the completion of the purchase, the chief executive officer directly owned 29,533 shares of the company’s stock, valued at approximately $630,234.22. This trade represents a 389.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Joseph M. Busky bought 4,770 shares of QuidelOrtho stock in a transaction on Monday, November 24th. The stock was acquired at an average cost of $26.06 per share, for a total transaction of $124,306.20. Following the acquisition, the chief financial officer owned 6,920 shares in the company, valued at approximately $180,335.20. This represents a 221.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 29,390 shares of company stock valued at $657,340. Company insiders own 0.79% of the company’s stock.

QuidelOrtho Stock Performance

QDEL opened at $32.73 on Wednesday. The firm has a market cap of $2.22 billion, a P/E ratio of -1.92 and a beta of 0.59. The business’s fifty day moving average is $28.47 and its 200-day moving average is $27.71. QuidelOrtho Corporation has a 52-week low of $19.50 and a 52-week high of $46.24. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.98 and a current ratio of 1.78.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.29. The firm had revenue of $699.90 million for the quarter, compared to the consensus estimate of $667.45 million. QuidelOrtho had a negative net margin of 42.53% and a positive return on equity of 5.75%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Sell-side analysts expect that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup reissued a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. UBS Group upped their price objective on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, QuidelOrtho currently has a consensus rating of “Hold” and an average price target of $38.20.

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.