Treasurer of the State of North Carolina Buys 3,780 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Treasurer of the State of North Carolina grew its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 16.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,336 shares of the company’s stock after purchasing an additional 3,780 shares during the period. Treasurer of the State of North Carolina’s holdings in QuidelOrtho were worth $1,218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in QuidelOrtho by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company’s stock worth $303,716,000 after buying an additional 764,900 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of QuidelOrtho by 71.7% in the 4th quarter. Invesco Ltd. now owns 3,447,446 shares of the company’s stock worth $153,584,000 after acquiring an additional 1,439,293 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of QuidelOrtho by 14.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company’s stock worth $62,666,000 after purchasing an additional 173,174 shares during the period. American Century Companies Inc. grew its holdings in QuidelOrtho by 72.6% during the 4th quarter. American Century Companies Inc. now owns 1,115,551 shares of the company’s stock valued at $49,698,000 after purchasing an additional 469,132 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in QuidelOrtho by 17.7% in the 4th quarter. Geode Capital Management LLC now owns 1,083,461 shares of the company’s stock worth $48,285,000 after purchasing an additional 162,758 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QDEL. Royal Bank of Canada cut their target price on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, UBS Group lifted their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $51.20.

QuidelOrtho Trading Down 0.4 %

Shares of NASDAQ QDEL opened at $25.17 on Friday. QuidelOrtho Co. has a twelve month low of $24.44 and a twelve month high of $49.45. The firm has a market cap of $1.70 billion, a PE ratio of -0.83 and a beta of 0.43. The business has a fifty day simple moving average of $35.42 and a two-hundred day simple moving average of $39.65. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. Analysts expect that QuidelOrtho Co. 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.