State of Alaska Department of Revenue Has $393,000 Stake in QuidelOrtho Co. (NASDAQ:QDEL)

State of Alaska Department of Revenue decreased its position in QuidelOrtho Co. (NASDAQ:QDEL) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,344 shares of the company’s stock after selling 575 shares during the quarter. State of Alaska Department of Revenue’s holdings in QuidelOrtho were worth $393,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QDEL. T. Rowe Price Investment Management Inc. boosted its stake in shares of QuidelOrtho by 2.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,506,473 shares of the company’s stock valued at $557,410,000 after buying an additional 160,782 shares during the period. Senvest Management LLC boosted its stake in shares of QuidelOrtho by 7.6% in the third quarter. Senvest Management LLC now owns 3,330,278 shares of the company’s stock valued at $243,244,000 after buying an additional 235,000 shares during the period. State Street Corp boosted its stake in shares of QuidelOrtho by 0.9% in the second quarter. State Street Corp now owns 1,554,116 shares of the company’s stock valued at $128,774,000 after buying an additional 14,591 shares during the period. Burgundy Asset Management Ltd. boosted its stake in shares of QuidelOrtho by 69.1% in the third quarter. Burgundy Asset Management Ltd. now owns 1,350,032 shares of the company’s stock valued at $98,606,000 after buying an additional 551,524 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of QuidelOrtho by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 1,271,935 shares of the company’s stock valued at $92,902,000 after buying an additional 80,218 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

QDEL has been the subject of several recent research reports. UBS Group reiterated a “sell” rating and issued a $42.00 price target (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Raymond James restated an “outperform” rating and set a $76.00 target price (down from $100.00) on shares of QuidelOrtho in a research note on Wednesday, February 14th. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Royal Bank of Canada cut their target price on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Finally, Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.60.

Insider Activity at QuidelOrtho

In related news, CFO Joseph M. Busky acquired 2,150 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $99,652.50. Following the completion of the acquisition, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at approximately $99,652.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by company insiders.

QuidelOrtho Stock Down 1.9 %

Shares of QDEL opened at $42.17 on Friday. QuidelOrtho Co. has a 52 week low of $41.75 and a 52 week high of $98.67. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -263.56 and a beta of 0.11. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 1.57. The stock has a fifty day moving average of $48.73 and a 200-day moving average of $61.92.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). The firm 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 firm’s revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.74 earnings per share. As a group, sell-side analysts anticipate that QuidelOrtho Co. will post 2.36 earnings per share for the current fiscal year.

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.