QuidelOrtho Co. (NASDAQ:QDEL) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 22.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,411 shares of the company’s stock after purchasing an additional 9,956 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of QuidelOrtho worth $2,424,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Rubric Capital Management LP raised its position in shares of QuidelOrtho by 15.2% during the 3rd quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock worth $191,520,000 after purchasing an additional 554,410 shares during the last quarter. State Street Corp raised its position in shares of QuidelOrtho by 16.9% during the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after purchasing an additional 275,522 shares during the last quarter. FMR LLC raised its position in shares of QuidelOrtho by 28.0% during the 3rd quarter. FMR LLC now owns 1,256,356 shares of the company’s stock worth $57,290,000 after purchasing an additional 274,633 shares during the last quarter. Geode Capital Management LLC raised its holdings in QuidelOrtho by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock valued at $41,996,000 after acquiring an additional 16,059 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in QuidelOrtho in the 3rd quarter valued at about $34,320,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

QuidelOrtho stock opened at $41.03 on Friday. The firm has a 50 day simple moving average of $43.46 and a 200-day simple moving average of $42.37. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $49.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -1.36 and a beta of 0.08.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. On average, analysts expect that QuidelOrtho Co. will post 2.38 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on QDEL shares. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Royal Bank of Canada cut their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group started coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective for the company. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. Finally, StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, QuidelOrtho has an average rating of “Hold” and a consensus target price of $51.20.

Insider Buying and Selling

In related news, CEO Brian J. Blaser acquired 6,033 shares of the stock in a transaction that occurred on 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 owns 6,033 shares of the company’s stock, valued at approximately $249,886.86. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

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.