Public Sector Pension Investment Board Grows Position in QuidelOrtho Corporation $QDEL

Key Points

• The Public Sector Pension Investment Board increased its holdings in QuidelOrtho Corporation by 27.3%, acquiring an additional 44,776 shares, bringing its total ownership to 208,990 shares worth approximately $7.3 million.
• Analysts have varied opinions on QuidelOrtho, with price targets ranging from $25 to $44, and a consensus rating of "Hold" based on a mix of buy, hold, and sell ratings.
• QuidelOrtho reported a 12-month high of $49.45 and a low of $22.05, indicating volatility in its stock performance amid a recent revenue decline of 3.6% year-over-year.

Public Sector Pension Investment Board lifted its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,990 shares of the company's stock after buying an additional 44,776 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.31% of QuidelOrtho worth $7,308,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its position in QuidelOrtho by 7.7% during the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock worth $336,000 after acquiring an additional 538 shares during the period. Yousif Capital Management LLC raised its position in shares of QuidelOrtho by 2.9% during the 1st quarter. Yousif Capital Management LLC now owns 25,950 shares of the company's stock worth $907,000 after purchasing an additional 734 shares during the last quarter. Rhumbline Advisers lifted its stake in QuidelOrtho by 0.6% in the 1st quarter. Rhumbline Advisers now owns 129,025 shares of the company's stock valued at $4,512,000 after buying an additional 770 shares in the last quarter. True Wealth Design LLC boosted its holdings in QuidelOrtho by 300.7% in the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock worth $48,000 after buying an additional 806 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in QuidelOrtho by 1.6% during the 1st quarter. New York State Teachers Retirement System now owns 56,900 shares of the company's stock worth $1,990,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on QDEL shares. Wall Street Zen downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a research note on Thursday, May 8th. UBS Group lowered their price target on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Finally, Citigroup lowered their price objective on QuidelOrtho from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.17.

QuidelOrtho Stock Up 2.3%

NASDAQ QDEL traded up $0.6050 during trading on Tuesday, reaching $26.4250. 217,750 shares of the company's stock were exchanged, compared to its average volume of 1,317,441. QuidelOrtho Corporation has a 1 year low of $22.05 and a 1 year high of $49.45. The stock has a market cap of $1.79 billion, a P/E ratio of -4.02 and a beta of -0.04. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12. The company has a 50 day moving average price of $27.39 and a two-hundred day moving average price of $31.54.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.11. The firm had revenue of $613.90 million during the quarter, compared to analysts' expectations of $612.36 million. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The firm's revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) earnings per share. On average, equities research analysts anticipate that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

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.