State of New Jersey Common Pension Fund D Has $2.03 Million Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

State of New Jersey Common Pension Fund D lifted its position in QuidelOrtho Co. (NASDAQ:QDEL) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,455 shares of the company’s stock after buying an additional 3,351 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in QuidelOrtho were worth $2,027,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of QuidelOrtho during the 3rd quarter worth about $25,000. Fifth Third Bancorp grew its holdings in QuidelOrtho by 907.3% during the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after purchasing an additional 744 shares during the period. GAMMA Investing LLC increased its position in QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after buying an additional 378 shares during the last quarter. Innealta Capital LLC bought a new stake in QuidelOrtho in the second quarter valued at approximately $102,000. Finally, Quest Partners LLC lifted its position in shares of QuidelOrtho by 17,095.0% in the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock valued at $114,000 after buying an additional 3,419 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Stock Down 7.1 %

QDEL stock opened at $36.18 on Friday. The business’s fifty day moving average price is $42.03 and its two-hundred day moving average price is $40.45. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -1.30 and a beta of 0.12. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $75.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The business had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $642.16 million. During the same quarter in the previous year, the company earned $0.90 EPS. The business’s revenue was down 2.3% on a year-over-year basis. On average, equities analysts anticipate that QuidelOrtho Co. will post 1.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

QDEL has been the topic of a number of recent analyst reports. UBS Group assumed coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research report on Friday, August 16th. Finally, Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and raised their target price for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, QuidelOrtho presently has an average rating of “Hold” and an average target price of $58.83.

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.