Arizona State Retirement System Acquires 3,107 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Arizona State Retirement System raised its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,498 shares of the company’s stock after purchasing an additional 3,107 shares during the quarter. Arizona State Retirement System’s holdings in QuidelOrtho were worth $869,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Cerity Partners LLC bought a new position in QuidelOrtho during the third quarter valued at $605,000. State Street Corp lifted its holdings in shares of QuidelOrtho by 16.9% in the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after acquiring an additional 275,522 shares during the last quarter. FMR LLC lifted its holdings in shares of QuidelOrtho by 28.0% in the 3rd quarter. FMR LLC now owns 1,256,356 shares of the company’s stock worth $57,290,000 after acquiring an additional 274,633 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of QuidelOrtho in the 4th quarter worth about $301,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of QuidelOrtho by 64.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock worth $12,405,000 after acquiring an additional 106,642 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Price Performance

QuidelOrtho stock opened at $35.60 on Friday. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -1.18 and a beta of 0.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. QuidelOrtho Co. has a 1 year low of $29.74 and a 1 year high of $49.45. The firm has a 50-day moving average of $42.10 and a two-hundred day moving average of $42.02.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. On average, research analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on QDEL shares. StockNews.com lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. 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 target price for the company. Citigroup upgraded 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 report on Wednesday, December 11th. Royal Bank of Canada decreased 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. Finally, William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.20.

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.