Oregon Public Employees Retirement Fund Acquires 1,900 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Oregon Public Employees Retirement Fund raised its position in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 13.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,528 shares of the company’s stock after purchasing an additional 1,900 shares during the period. Oregon Public Employees Retirement Fund’s holdings in QuidelOrtho were worth $692,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of QDEL. Creative Planning purchased a new position in shares of QuidelOrtho during the 3rd quarter valued at $476,000. Allspring Global Investments Holdings LLC raised its holdings in QuidelOrtho by 970.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,661 shares of the company’s stock valued at $349,000 after acquiring an additional 6,945 shares during the period. International Assets Investment Management LLC lifted its position in shares of QuidelOrtho by 4,460.0% in the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock valued at $208,000 after acquiring an additional 4,460 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of QuidelOrtho by 128.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,612 shares of the company’s stock valued at $712,000 after acquiring an additional 8,772 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of QuidelOrtho by 517.4% in the third quarter. State of Alaska Department of Revenue now owns 32,996 shares of the company’s stock worth $1,504,000 after acquiring an additional 27,652 shares during the period. 99.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QDEL has been the topic of several recent analyst reports. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. UBS Group lifted their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Finally, Jefferies Financial Group initiated coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.20.

QuidelOrtho Stock Performance

NASDAQ QDEL opened at $39.99 on Monday. The stock has a market capitalization of $2.69 billion, a PE ratio of -1.32 and a beta of 0.08. The business has a 50 day simple moving average of $43.18 and a two-hundred day simple moving average of $42.35. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results 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%. On average, research analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

Insider Transactions at QuidelOrtho

In related news, CEO Brian J. Blaser bought 6,033 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the acquisition, the chief executive officer now owns 6,033 shares in the company, valued at $249,886.86. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

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.