Mutual of America Capital Management LLC Trims Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Mutual of America Capital Management LLC lowered its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,646 shares of the company’s stock after selling 2,028 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of QuidelOrtho worth $2,553,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QDEL. Global Retirement Partners LLC grew its position in shares of QuidelOrtho by 109.0% in the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after acquiring an additional 181 shares in the last quarter. Money Concepts Capital Corp grew its position in shares of QuidelOrtho by 66.8% in the 4th quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Eagle Bay Advisors LLC grew its position in shares of QuidelOrtho by 174.2% in the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock worth $34,000 after acquiring an additional 223 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of QuidelOrtho by 48.6% in the 1st quarter. First Horizon Advisors Inc. now owns 822 shares of the company’s stock worth $73,000 after acquiring an additional 269 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in shares of QuidelOrtho in the 4th quarter worth approximately $97,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

Shares of NASDAQ QDEL opened at $39.12 on Friday. QuidelOrtho Co. has a 12-month low of $37.78 and a 12-month high of $95.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.57 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $45.90 and its 200 day simple moving average is $60.80.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.84). The company had revenue of $742.60 million during the quarter, compared to the consensus estimate of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period last year, the business posted $1.74 EPS. Research analysts expect that QuidelOrtho Co. will post 2.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on QDEL shares. Raymond James reiterated an “outperform” rating and issued a $76.00 target price (down previously from $100.00) on shares of QuidelOrtho in a research report on Wednesday, February 14th. UBS Group reiterated a “sell” rating and issued a $42.00 target price (down previously from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Craig Hallum reiterated a “hold” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. downgraded QuidelOrtho from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $66.00 to $37.00 in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.60.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky bought 2,150 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $46.35 per share, with a total value of $99,652.50. Following the purchase, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at $99,652.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

QuidelOrtho Company Profile

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.