Teachers Retirement System of The State of Kentucky Has $2.58 Million Position in QuidelOrtho Co. (NASDAQ:QDEL)

Teachers Retirement System of The State of Kentucky grew its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 6.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 35,050 shares of the company’s stock after buying an additional 2,256 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of QuidelOrtho worth $2,583,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in QDEL. Cetera Trust Company N.A acquired a new position in shares of QuidelOrtho during the fourth quarter valued at about $108,000. C M Bidwell & Associates Ltd. acquired a new position in shares of QuidelOrtho during the third quarter valued at about $123,000. Bfsg LLC acquired a new position in QuidelOrtho in the fourth quarter worth about $146,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in QuidelOrtho in the fourth quarter worth about $227,000. Finally, Perigon Wealth Management LLC acquired a new position in QuidelOrtho in the fourth quarter worth about $232,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Insider Activity at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 127,981 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $36.19, for a total value of $4,631,632.39. Following the transaction, the insider now directly owns 12,123,705 shares in the company, valued at $438,756,883.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 291,886 shares of company stock worth $10,803,048 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. UBS Group reaffirmed a “sell” rating and set a $42.00 price objective (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.00.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock opened at $35.61 on Thursday. The company has a current ratio of 1.55, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -1.35 and a beta of 0.13. QuidelOrtho Co. has a 1-year low of $35.40 and a 1-year high of $89.11. The firm’s 50-day moving average price is $41.37 and its two-hundred day moving average price is $53.33.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $697.33 million. On average, equities analysts predict that QuidelOrtho Co. will post 1.85 earnings per share for the current fiscal year.

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.