Leeward Investments LLC MA Lowers Position in QuidelOrtho Co. (NASDAQ:QDEL)

Leeward Investments LLC MA cut its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 213,446 shares of the company’s stock after selling 16,401 shares during the quarter. Leeward Investments LLC MA’s holdings in QuidelOrtho were worth $9,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rubric Capital Management LP raised its stake in shares of QuidelOrtho by 15.2% in the third quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock worth $191,520,000 after purchasing an additional 554,410 shares during the last quarter. State Street Corp raised its stake in shares of QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after purchasing an additional 275,522 shares during the last quarter. FMR LLC raised its stake in shares of QuidelOrtho by 28.0% in the third quarter. FMR LLC now owns 1,256,356 shares of the company’s stock worth $57,290,000 after purchasing an additional 274,633 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of QuidelOrtho by 1.8% in the third quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock worth $41,996,000 after purchasing an additional 16,059 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of QuidelOrtho in the third quarter worth approximately $34,320,000. 99.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QuidelOrtho

In related news, CEO Brian J. Blaser purchased 6,033 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $41.42 per share, with a total value of $249,886.86. Following the completion of the acquisition, the chief executive officer now directly owns 6,033 shares of the company’s stock, valued at approximately $249,886.86. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $40.46 on Friday. The stock has a fifty day simple moving average of $43.45 and a two-hundred day simple moving average of $42.38. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $49.45. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -1.34 and a beta of 0.08. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL) last announced 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 anticipate that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on QDEL. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Royal Bank of Canada decreased their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. UBS Group increased their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group began coverage on QuidelOrtho in a research report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.20.

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.