Rubric Capital Management LP Reduces Stake in QuidelOrtho Corporation $QDEL

Rubric Capital Management LP reduced its holdings in QuidelOrtho Corporation (NASDAQ:QDEL) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,306,281 shares of the company’s stock after selling 470,876 shares during the quarter. Rubric Capital Management LP’s holdings in QuidelOrtho were worth $54,322,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in QDEL. Hantz Financial Services Inc. lifted its stake in QuidelOrtho by 50.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock worth $31,000 after acquiring an additional 362 shares during the period. ProShare Advisors LLC increased its position in QuidelOrtho by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock valued at $376,000 after purchasing an additional 388 shares during the period. State of Alaska Department of Revenue increased its position in QuidelOrtho by 1.1% during the 4th quarter. State of Alaska Department of Revenue now owns 38,333 shares of the company’s stock valued at $1,093,000 after purchasing an additional 424 shares during the period. California State Teachers Retirement System raised its holdings in QuidelOrtho by 1.2% in the 2nd quarter. California State Teachers Retirement System now owns 62,188 shares of the company’s stock worth $1,792,000 after purchasing an additional 725 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in QuidelOrtho by 3,691.7% in the 4th quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock worth $26,000 after purchasing an additional 886 shares in the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Jefferies Financial Group reiterated a “hold” rating on shares of QuidelOrtho in a research report on Monday, June 29th. UBS Group reissued a “neutral” rating and issued a $12.00 price target on shares of QuidelOrtho in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Finally, Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $13.62.

QuidelOrtho Stock Up 4.9%

QDEL stock opened at $16.83 on Tuesday. The business has a 50 day moving average of $14.99 and a 200 day moving average of $18.53. The firm has a market cap of $1.15 billion, a PE ratio of -0.94 and a beta of 0.69. QuidelOrtho Corporation has a twelve month low of $9.92 and a twelve month high of $35.58. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 1.33.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS 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 company had revenue of $619.80 million during the quarter, compared to the consensus estimate of $665.23 million. During the same period last year, the firm posted $0.74 earnings per share. The company’s revenue was down 10.5% compared to the same quarter last year. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, research analysts forecast that QuidelOrtho Corporation will post 1.87 EPS for the current fiscal 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.