Leeward Investments LLC MA Sells 9,291 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Leeward Investments LLC MA reduced its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,426 shares of the company’s stock after selling 9,291 shares during the quarter. Leeward Investments LLC MA’s holdings in QuidelOrtho were worth $10,471,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in QuidelOrtho by 1,871.8% in the 1st quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock valued at $67,000 after buying an additional 1,329 shares during the last quarter. Cetera Trust Company N.A acquired a new stake in QuidelOrtho in the 4th quarter valued at $108,000. Bfsg LLC acquired a new stake in QuidelOrtho in the 4th quarter valued at $146,000. CWM LLC increased its stake in QuidelOrtho by 1,536.0% in the 1st quarter. CWM LLC now owns 2,814 shares of the company’s stock valued at $135,000 after buying an additional 2,642 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in QuidelOrtho in the 4th quarter valued at $227,000. 99.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lowered their price target on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, QuidelOrtho currently has an average rating of “Hold” and a consensus target price of $59.00.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock traded down $0.16 during trading on Friday, hitting $30.85. 33,017 shares of the stock were exchanged, compared to its average volume of 977,056. The company has a fifty day moving average price of $39.76 and a 200-day moving average price of $50.76. QuidelOrtho Co. has a 1-year low of $30.61 and a 1-year high of $89.11. The company has a quick ratio of 0.81, a current ratio of 1.55 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last released 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). The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $697.33 million. QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. Analysts expect that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Insider Transactions at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 127,981 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $36.19, for a total transaction of $4,631,632.39. Following the transaction, the insider now directly owns 12,123,705 shares in the company, valued at approximately $438,756,883.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 645,335 shares of company stock worth $22,646,564 in the last ninety days. Insiders own 1.00% of the company’s stock.

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.