Mutual of America Capital Management LLC Has $245,000 Position in QuidelOrtho Corporation $QDEL

Mutual of America Capital Management LLC cut its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,514 shares of the company’s stock after selling 1,084 shares during the quarter. Mutual of America Capital Management LLC’s holdings in QuidelOrtho were worth $245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bfsg LLC lifted its holdings in QuidelOrtho by 6.8% during the 2nd quarter. Bfsg LLC now owns 5,460 shares of the company’s stock worth $157,000 after buying an additional 347 shares during the period. Quarry LP grew its stake in QuidelOrtho by 47.1% during the first quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after purchasing an additional 460 shares during the period. Yousif Capital Management LLC grew its stake in QuidelOrtho by 1.8% during the second quarter. Yousif Capital Management LLC now owns 26,428 shares of the company’s stock worth $762,000 after purchasing an additional 478 shares during the period. Blue Trust Inc. grew its stake in QuidelOrtho by 46.4% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $57,000 after purchasing an additional 623 shares during the period. Finally, Voya Investment Management LLC raised its stake in QuidelOrtho by 9.2% during the 1st quarter. Voya Investment Management LLC now owns 8,243 shares of the company’s stock worth $288,000 after buying an additional 692 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. Citigroup reaffirmed a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, UBS Group dropped 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. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $37.80.

QuidelOrtho Stock Performance

QDEL stock opened at $27.94 on Thursday. The firm has a market cap of $1.90 billion, a PE ratio of -4.27 and a beta of 0.27. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average of $28.46 and a 200-day moving average of $28.41. QuidelOrtho Corporation has a 12-month low of $22.05 and a 12-month high of $49.45.

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