2,521,700 Shares in QuidelOrtho Corporation $QDEL Purchased by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY bought a new stake in QuidelOrtho Corporation (NASDAQ:QDEL) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,521,700 shares of the company’s stock, valued at approximately $44,168,000. QuidelOrtho accounts for about 1.2% of Paradigm Capital Management Inc. NY’s investment portfolio, making the stock its 19th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QDEL. Royal Bank of Canada boosted its stake in shares of QuidelOrtho by 1,218.7% during the 1st quarter. Royal Bank of Canada now owns 80,193 shares of the company’s stock worth $2,803,000 after purchasing an additional 74,112 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of QuidelOrtho by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,398 shares of the company’s stock worth $7,987,000 after buying an additional 21,968 shares in the last quarter. Focus Partners Wealth raised its position in shares of QuidelOrtho by 210.9% in the first quarter. Focus Partners Wealth now owns 20,454 shares of the company’s stock valued at $715,000 after buying an additional 13,876 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of QuidelOrtho in the second quarter valued at approximately $1,313,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of QuidelOrtho by 250.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,230 shares of the company’s stock valued at $93,000 after buying an additional 2,309 shares during the period. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QDEL has been the topic of a number of analyst reports. UBS Group restated a “neutral” rating and set a $12.00 target price on shares of QuidelOrtho in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a report on Friday, July 17th. Wall Street Zen raised QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Finally, Citigroup lifted their price objective on QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, QuidelOrtho has a consensus rating of “Reduce” and a consensus target price of $13.62.

QuidelOrtho Price Performance

QuidelOrtho stock opened at $14.49 on Tuesday. QuidelOrtho Corporation has a 1 year low of $9.92 and a 1 year high of $35.58. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.76 and a current ratio of 1.39. The firm has a 50 day moving average price of $15.82 and a 200 day moving average price of $16.34. The company has a market cap of $993.65 million, a price-to-earnings ratio of -0.94 and a beta of 0.68.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18. The company had revenue of $630.90 million for the quarter, compared to the consensus estimate of $618.72 million. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. QuidelOrtho’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Sell-side analysts predict that QuidelOrtho Corporation will post 0.75 earnings per share for the current year.

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.