New York State Common Retirement Fund Sells 4,744 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

New York State Common Retirement Fund decreased its position in QuidelOrtho Co. (NASDAQ:QDEL) by 4.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 96,836 shares of the company’s stock after selling 4,744 shares during the period. New York State Common Retirement Fund owned about 0.14% of QuidelOrtho worth $7,137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in QDEL. Burgundy Asset Management Ltd. grew its holdings in shares of QuidelOrtho by 69.1% in the third quarter. Burgundy Asset Management Ltd. now owns 1,350,032 shares of the company’s stock worth $98,606,000 after purchasing an additional 551,524 shares during the last quarter. LSV Asset Management grew its holdings in shares of QuidelOrtho by 217.4% in the third quarter. LSV Asset Management now owns 737,395 shares of the company’s stock worth $53,859,000 after purchasing an additional 505,050 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in QuidelOrtho by 4,035.8% in the third quarter. Clearbridge Investments LLC now owns 451,542 shares of the company’s stock valued at $32,981,000 after acquiring an additional 440,624 shares in the last quarter. LGT Capital Partners LTD. boosted its holdings in QuidelOrtho by 69.9% in the fourth quarter. LGT Capital Partners LTD. now owns 954,466 shares of the company’s stock valued at $70,344,000 after acquiring an additional 392,790 shares in the last quarter. Finally, Rubric Capital Management LP bought a new stake in QuidelOrtho in the third quarter valued at $21,651,000. Institutional investors own 99.00% of the company’s stock.

Insider Transactions at QuidelOrtho

In related news, CFO Joseph M. Busky purchased 2,150 shares of the stock in a transaction dated Friday, February 23rd. The stock was purchased at an average price of $46.35 per share, with a total value of $99,652.50. Following the transaction, the chief financial officer now directly owns 2,150 shares in the company, valued at $99,652.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $42.22 on Friday. QuidelOrtho Co. has a 12 month low of $37.78 and a 12 month high of $95.02. The stock has a market cap of $2.82 billion, a PE ratio of -263.88 and a beta of 0.17. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $44.09 and its 200-day moving average price is $58.89.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). The business had revenue of $742.60 million for the quarter, compared to the consensus estimate of $796.91 million. QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The business’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.74 EPS. On average, equities analysts expect that QuidelOrtho Co. will post 2.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on QDEL shares. Craig Hallum reiterated a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Raymond James reiterated an “outperform” rating and issued a $76.00 price target (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. JPMorgan Chase & Co. cut shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and cut their price target for the company from $66.00 to $37.00 in a report on Wednesday, February 14th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, Royal Bank of Canada dropped their target price on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.60.

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.