State of Alaska Department of Revenue Increases Position in QuidelOrtho Co. (NASDAQ:QDEL)

State of Alaska Department of Revenue raised its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,497 shares of the company’s stock after purchasing an additional 4,501 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of QuidelOrtho worth $1,670,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in QDEL. Capital Performance Advisors LLP bought a new stake in QuidelOrtho in the 3rd quarter worth approximately $25,000. Spire Wealth Management purchased a new position in shares of QuidelOrtho during the fourth quarter worth approximately $74,000. Blue Trust Inc. lifted its holdings in shares of QuidelOrtho by 344.3% in the 4th quarter. Blue Trust Inc. now owns 1,995 shares of the company’s stock worth $91,000 after acquiring an additional 1,546 shares during the last quarter. KBC Group NV boosted its stake in shares of QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after purchasing an additional 1,895 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of QuidelOrtho by 4,460.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock valued at $208,000 after purchasing an additional 4,460 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Insider Transactions at QuidelOrtho

In related news, CEO Brian J. Blaser purchased 6,033 shares of the stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now directly owns 6,033 shares in the company, valued at $249,886.86. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

QuidelOrtho Stock Performance

Shares of QDEL opened at $41.47 on Wednesday. The company has a 50-day simple moving average of $43.25 and a two-hundred day simple moving average of $42.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81. The firm has a market capitalization of $2.79 billion, a PE ratio of -1.49 and a beta of 0.08. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $69.83.

Analyst Upgrades and Downgrades

QDEL has been the topic of a number of recent research reports. Jefferies Financial Group started coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective on the stock. StockNews.com raised shares of QuidelOrtho from a “hold” rating to a “buy” rating in a report on Friday, February 7th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Finally, Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, QuidelOrtho has an average rating of “Hold” and an average target price of $53.43.

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.