Teacher Retirement System of Texas Invests $344,000 in QuidelOrtho Corporation (NASDAQ:QDEL)

Teacher Retirement System of Texas purchased a new position in QuidelOrtho Corporation (NASDAQ:QDEL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,829 shares of the company’s stock, valued at approximately $344,000.

A number of other institutional investors have also recently made changes to their positions in QDEL. Quarry LP purchased a new stake in QuidelOrtho during the 4th quarter valued at $43,000. True Wealth Design LLC boosted its position 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 buying an additional 806 shares during the period. State of Wyoming purchased a new stake in QuidelOrtho during the 4th quarter valued at $164,000. Sterling Capital Management LLC boosted its position 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 buying an additional 1,601 shares during the period. Finally, Humankind Investments LLC purchased a new stake in QuidelOrtho during the 4th quarter valued at $211,000. Institutional investors own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on QDEL shares. Jefferies Financial Group raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a research report on Monday, April 21st. Wall Street Zen raised shares of QuidelOrtho from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, UBS Group dropped their target price on shares of QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.33.

QuidelOrtho Stock Down 4.6%

Shares of QuidelOrtho stock opened at $25.45 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.20 and a quick ratio of 0.66. The company has a 50-day moving average of $30.34 and a 200 day moving average of $34.63. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -5.12 and a beta of 0.07. QuidelOrtho Corporation has a 1 year low of $23.77 and a 1 year high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.13. The company had revenue of $692.80 million during the quarter, compared to analyst estimates of $694.97 million. QuidelOrtho had a negative net margin of 12.07% and a positive return on equity of 4.71%. QuidelOrtho’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. As a group, sell-side analysts anticipate that QuidelOrtho Corporation will post 2.3 earnings per share 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.