Public Employees Retirement System of Ohio Sells 693 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Public Employees Retirement System of Ohio decreased its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 3.2% during the third quarter, HoldingsChannel reports. The fund owned 21,027 shares of the company’s stock after selling 693 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in QuidelOrtho were worth $959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC grew its holdings in QuidelOrtho by 20.3% during the 2nd quarter. SG Americas Securities LLC now owns 8,334 shares of the company’s stock valued at $277,000 after purchasing an additional 1,404 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of QuidelOrtho by 9.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,840 shares of the company’s stock valued at $227,000 after buying an additional 572 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of QuidelOrtho by 907.3% in the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after buying an additional 744 shares during the period. Skylands Capital LLC lifted its stake in shares of QuidelOrtho by 4.6% during the 2nd quarter. Skylands Capital LLC now owns 139,400 shares of the company’s stock worth $4,631,000 after acquiring an additional 6,100 shares during the last quarter. Finally, Bfsg LLC boosted its holdings in QuidelOrtho by 26.2% during the 2nd quarter. Bfsg LLC now owns 5,023 shares of the company’s stock valued at $167,000 after acquiring an additional 1,043 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Price Performance

Shares of QDEL opened at $43.03 on Friday. The stock has a market capitalization of $2.89 billion, a PE ratio of -1.54 and a beta of 0.11. The company has a 50 day moving average price of $40.03 and a 200-day moving average price of $40.04. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. The business had revenue of $727.00 million for 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 revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. Equities analysts predict that QuidelOrtho Co. will post 1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. Jefferies Financial Group assumed coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price target on the stock. UBS Group initiated coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price objective for the company. Citigroup raised shares of 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 report on Wednesday, December 11th. Finally, William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $53.43.

Insiders Place Their Bets

In other QuidelOrtho news, CEO Brian J. Blaser purchased 6,033 shares of QuidelOrtho stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $41.42 per share, with a total value of $249,886.86. Following the completion of the transaction, the chief executive officer now owns 6,033 shares in the company, valued at approximately $249,886.86. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $291,667,061.73. The disclosure for this sale can be found here. 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.