Teacher Retirement System of Texas Acquires New Shares in QuidelOrtho Corporation (NASDAQ:QDEL)

Teacher Retirement System of Texas bought a new stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 9,829 shares of the company's stock, valued at approximately $344,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of QuidelOrtho in the 4th quarter worth approximately $43,000. True Wealth Design LLC increased its holdings in QuidelOrtho by 300.7% during the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $48,000 after purchasing an additional 806 shares in the last quarter. State of Wyoming acquired a new stake in QuidelOrtho during the 4th quarter valued at $164,000. Sterling Capital Management LLC increased its holdings in QuidelOrtho by 75.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock valued at $166,000 after purchasing an additional 1,601 shares in the last quarter. Finally, Humankind Investments LLC acquired a new stake in QuidelOrtho during the 4th quarter valued at $211,000. Institutional investors own 99.00% of the company's stock.

Analysts Set New Price Targets

QDEL has been the topic of a number of recent research reports. UBS Group decreased their price objective on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. reduced their price target on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Wall Street Zen upgraded QuidelOrtho from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $44.33.

QuidelOrtho Price Performance

Shares of QDEL stock traded down $1.23 during trading on Friday, hitting $25.45. The company had a trading volume of 1,505,998 shares, compared to its average volume of 1,152,070. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.66 and a current ratio of 1.20. The firm has a market capitalization of $1.72 billion, a P/E ratio of -5.12 and a beta of 0.07. The stock's 50-day moving average price is $30.12 and its 200 day moving average price is $34.50. QuidelOrtho Corporation has a one year low of $23.77 and a one year high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.61 by $0.13. The business had revenue of $692.80 million during the quarter, compared to the consensus estimate of $694.97 million. QuidelOrtho had a negative net margin of 12.07% and a positive return on equity of 4.71%. The company's revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. Equities analysts expect that QuidelOrtho Corporation will post 2.3 EPS 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.