Skylands Capital LLC Acquires 206,850 Shares of QuidelOrtho Corporation $QDEL

Skylands Capital LLC grew its stake in QuidelOrtho Corporation (NASDAQ:QDEL) by 153.6% during the 1st quarter, HoldingsChannel reports. The firm owned 341,554 shares of the company’s stock after acquiring an additional 206,850 shares during the quarter. Skylands Capital LLC’s holdings in QuidelOrtho were worth $5,612,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System bought a new stake in QuidelOrtho during the 1st quarter worth approximately $495,000. Corient Private Wealth LLC bought a new position in QuidelOrtho in the 4th quarter valued at $280,000. T. Rowe Price Investment Management Inc. boosted its stake in QuidelOrtho by 7.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,832,098 shares of the company’s stock worth $337,925,000 after purchasing an additional 819,908 shares in the last quarter. Invesco Ltd. grew its holdings in shares of QuidelOrtho by 19.4% during the fourth quarter. Invesco Ltd. now owns 3,470,656 shares of the company’s stock worth $99,122,000 after purchasing an additional 563,893 shares during the last quarter. Finally, Moore Capital Management LP acquired a new position in QuidelOrtho during the 4th quarter worth about $1,260,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group reissued a “neutral” rating and issued a $12.00 target price on shares of QuidelOrtho in a research note on Thursday, May 7th. Zacks Research upgraded shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Jefferies Financial Group lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating and reduced their target price for the company from $35.00 to $12.50 in a research note on Thursday, May 7th. Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Tuesday, April 21st. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $14.88.

QuidelOrtho Stock Up 2.0%

Shares of NASDAQ QDEL opened at $13.79 on Friday. The stock has a market cap of $940.34 million, a P/E ratio of -0.77 and a beta of 0.77. The firm has a 50 day moving average price of $12.49 and a 200 day moving average price of $20.31. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.43. QuidelOrtho Corporation has a 52-week low of $9.92 and a 52-week high of $35.58.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.41). QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The firm had revenue of $619.80 million during the quarter, compared to analyst estimates of $665.23 million. During the same quarter last year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. Analysts expect that QuidelOrtho Corporation will post 1.83 EPS for the current year.

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.