QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,446 shares of the company's stock after selling 16,401 shares during the period. Leeward Investments LLC MA owned approximately 0.32% of QuidelOrtho worth $9,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rubric Capital Management LP lifted its position in QuidelOrtho by 15.2% in the third quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company's stock worth $191,520,000 after buying an additional 554,410 shares during the last quarter. 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. Geode Capital Management LLC boosted its stake in shares of QuidelOrtho by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company's stock worth $41,996,000 after purchasing an additional 16,059 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in QuidelOrtho during the 3rd quarter valued at about $34,320,000. Hedge funds and other institutional investors own 99.00% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have issued reports on QDEL. Royal Bank of Canada dropped their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. William Blair reaffirmed a "market perform" rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Citigroup upgraded QuidelOrtho from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. UBS Group raised their price target on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group assumed coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They set a "hold" rating and a $43.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, QuidelOrtho has a consensus rating of "Hold" and an average price target of $51.20.

Insider Activity

In related news, CEO Brian J. Blaser acquired 6,033 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $41.42 per share, with a total value of $249,886.86. Following the completion of 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

QuidelOrtho Stock Down 0.8 %

Shares of QDEL stock traded down $0.31 on Wednesday, hitting $40.88. The stock had a trading volume of 414,700 shares, compared to its average volume of 913,805. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $49.45. The business has a 50 day moving average price of $43.37 and a 200 day moving average price of $42.40. The company has a market cap of $2.75 billion, a PE ratio of -1.35 and a beta of 0.08. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) 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%. Research analysts anticipate that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

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.