Leeward Investments LLC MA Buys 102,668 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Leeward Investments LLC MA lifted its holdings in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 82.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,717 shares of the company's stock after purchasing an additional 102,668 shares during the quarter. Leeward Investments LLC MA owned 0.34% of QuidelOrtho worth $16,783,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pinnacle Associates Ltd. lifted its position in shares of QuidelOrtho by 167.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 85,375 shares of the company's stock worth $6,292,000 after purchasing an additional 53,446 shares in the last quarter. Wellington Management Group LLP increased its holdings in QuidelOrtho by 11.2% during the third quarter. Wellington Management Group LLP now owns 760,632 shares of the company's stock worth $55,557,000 after buying an additional 76,866 shares during the last quarter. Comerica Bank acquired a new position in QuidelOrtho during the third quarter worth $5,156,000. Citigroup Inc. increased its holdings in QuidelOrtho by 25.0% during the third quarter. Citigroup Inc. now owns 5,808 shares of the company's stock worth $424,000 after buying an additional 1,161 shares during the last quarter. Finally, Private Management Group Inc. increased its holdings in QuidelOrtho by 117.7% during the fourth quarter. Private Management Group Inc. now owns 197,344 shares of the company's stock worth $14,544,000 after buying an additional 106,709 shares during the last quarter. Institutional investors own 99.00% of the company's stock.

Insider Activity

In other QuidelOrtho news, CFO Joseph M. Busky bought 2,150 shares of QuidelOrtho stock in a transaction dated Friday, February 23rd. The stock was bought at an average price of $46.35 per share, with a total value of $99,652.50. Following the completion of the transaction, the chief financial officer now owns 2,150 shares in the company, valued at approximately $99,652.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

QuidelOrtho Stock Performance

Shares of NASDAQ:QDEL traded down $0.05 on Friday, hitting $39.64. The company had a trading volume of 546,985 shares, compared to its average volume of 922,857. QuidelOrtho Co. has a 1-year low of $37.78 and a 1-year high of $95.02. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -247.75 and a beta of 0.11. The stock has a 50 day moving average price of $44.54 and a 200 day moving average price of $59.59. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.84). The business had revenue of $742.60 million during the quarter, compared to the consensus estimate of $796.91 million. QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The company's revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 EPS. Analysts expect that QuidelOrtho Co. will post 2.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James restated an "outperform" rating and set a $76.00 target price (down from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Craig Hallum restated a "hold" rating on shares of QuidelOrtho in a report on Wednesday, February 14th. UBS Group restated a "sell" rating and set a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Royal Bank of Canada decreased their price objective on shares of QuidelOrtho from $130.00 to $81.00 and set an "outperform" rating on the stock in a report on Wednesday, February 14th. Finally, William Blair reiterated a "market perform" rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $61.60.

QuidelOrtho 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.