Mutual of America Capital Management LLC Sells 19,680 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Mutual of America Capital Management LLC lowered its position in QuidelOrtho Co. (NASDAQ:QDEL) by 69.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,696 shares of the company’s stock after selling 19,680 shares during the quarter. Mutual of America Capital Management LLC’s holdings in QuidelOrtho were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of QDEL. Capital Performance Advisors LLP bought a new stake in QuidelOrtho in the third quarter valued at approximately $25,000. Fifth Third Bancorp raised its position in shares of QuidelOrtho by 907.3% in the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock valued at $27,000 after purchasing an additional 744 shares during the period. GAMMA Investing LLC boosted its holdings in shares of QuidelOrtho by 27.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after buying an additional 378 shares during the period. Innealta Capital LLC acquired a new position in QuidelOrtho in the 2nd quarter valued at about $102,000. Finally, Quest Partners LLC lifted its position in QuidelOrtho by 17,095.0% during the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after acquiring an additional 3,419 shares during the last quarter. 99.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

QuidelOrtho Trading Up 0.3 %

QDEL opened at $41.12 on Thursday. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $75.86. The company has a market cap of $2.77 billion, a P/E ratio of -1.47 and a beta of 0.12. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $41.07 and its 200-day moving average is $40.27.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.30 by $0.55. The firm had revenue of $727.00 million during the quarter, compared to the consensus estimate of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Equities research analysts predict that QuidelOrtho Co. will post 1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on QDEL shares. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. UBS Group assumed coverage on QuidelOrtho in a research note on Thursday, September 19th. They set a “neutral” rating and a $50.00 price objective on the stock. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and raised their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.83.

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.