State of Wyoming Lowers Stock Holdings in QuidelOrtho Corporation $QDEL

State of Wyoming lowered its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 62.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,369 shares of the company’s stock after selling 2,310 shares during the quarter. State of Wyoming’s holdings in QuidelOrtho were worth $48,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of QDEL. Summit Securities Group LLC purchased a new stake in shares of QuidelOrtho in the first quarter valued at approximately $36,000. True Wealth Design LLC boosted its stake in shares of QuidelOrtho by 300.7% during the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $48,000 after acquiring an additional 806 shares in the last quarter. SYM FINANCIAL Corp purchased a new stake in shares of QuidelOrtho during the 1st quarter worth approximately $235,000. Focus Partners Wealth purchased a new stake in shares of QuidelOrtho during the 4th quarter worth approximately $293,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of QuidelOrtho during the 1st quarter worth approximately $332,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

QuidelOrtho Trading Up 0.3%

Shares of QDEL opened at $28.56 on Wednesday. The company has a market capitalization of $1.94 billion, a PE ratio of -4.37 and a beta of 0.14. 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 stock has a fifty day moving average of $27.02 and a two-hundred day moving average of $30.06. QuidelOrtho Corporation has a fifty-two week low of $22.05 and a fifty-two week high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.11. The business had revenue of $613.90 million during the quarter, compared to the consensus estimate of $612.36 million. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) EPS. As a group, analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QDEL. UBS Group decreased their price target on QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Citigroup cut their price objective on QuidelOrtho from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, QuidelOrtho presently has an average rating of “Hold” and an average price target of $39.20.

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.