Brighton Jones LLC Invests $384,000 in QuidelOrtho Corporation $QDEL

Brighton Jones LLC bought a new position in QuidelOrtho Corporation (NASDAQ:QDEL) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 13,337 shares of the company’s stock, valued at approximately $384,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of QuidelOrtho by 2.4% in the first quarter. Principal Financial Group Inc. now owns 326,996 shares of the company’s stock worth $11,435,000 after buying an additional 7,788 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of QuidelOrtho by 147.5% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 34,186 shares of the company’s stock valued at $985,000 after acquiring an additional 20,374 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of QuidelOrtho in the 1st quarter valued at about $411,000. Nordea Investment Management AB purchased a new stake in shares of QuidelOrtho in the 2nd quarter valued at about $2,609,000. Finally, Stanley Capital Management LLC raised its holdings in shares of QuidelOrtho by 76.9% in the 1st quarter. Stanley Capital Management LLC now owns 345,000 shares of the company’s stock valued at $12,065,000 after acquiring an additional 150,000 shares in the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Citigroup reissued a “neutral” rating and set a $33.00 price objective (down from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Finally, Wall Street Zen lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, QuidelOrtho currently has an average rating of “Reduce” and an average price target of $37.80.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock opened at $26.81 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 0.62. The business’s 50 day simple moving average is $28.48 and its two-hundred day simple moving average is $28.40. The stock has a market capitalization of $1.82 billion, a P/E ratio of -4.10 and a beta of 0.27. QuidelOrtho Corporation has a one year low of $22.05 and a one year high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.01 by $0.11. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The company had revenue of $613.90 million for the quarter, compared to the consensus estimate of $612.36 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts forecast 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.