Maryland State Retirement & Pension System Has $775,000 Stock Holdings in QuidelOrtho Corporation (NASDAQ:QDEL)

Maryland State Retirement & Pension System decreased its holdings in QuidelOrtho Corporation (NASDAQ:QDEL) by 12.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,174 shares of the company’s stock after selling 3,059 shares during the quarter. Maryland State Retirement & Pension System’s holdings in QuidelOrtho were worth $775,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in QDEL. Quarry LP acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $43,000. True Wealth Design LLC increased its position in shares of QuidelOrtho by 300.7% during the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $48,000 after purchasing an additional 806 shares in the last quarter. State of Wyoming acquired a new stake in shares of QuidelOrtho during the 4th quarter worth about $164,000. Sterling Capital Management LLC increased its position in shares of QuidelOrtho by 75.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company’s stock worth $166,000 after purchasing an additional 1,601 shares in the last quarter. Finally, Humankind Investments LLC acquired a new stake in shares of QuidelOrtho during the 4th quarter worth about $211,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

QDEL has been the subject of a number of recent analyst reports. UBS Group dropped their target price on shares of QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a research report on Monday, April 21st. Wall Street Zen cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Jefferies Financial Group upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Thursday, May 8th. Finally, Citigroup dropped their target price on shares of QuidelOrtho from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.17.

QuidelOrtho Trading Up 6.6%

QDEL opened at $25.19 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $1.71 billion, a PE ratio of -3.85 and a beta of -0.04. QuidelOrtho Corporation has a 1-year low of $22.05 and a 1-year high of $49.45. The firm has a 50-day moving average price of $27.71 and a two-hundred day moving average price of $32.13.

QuidelOrtho (NASDAQ:QDEL) last posted 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. The firm had revenue of $613.90 million during the quarter, compared to analysts’ expectations of $612.36 million. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS. As a group, equities analysts anticipate that QuidelOrtho Corporation 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.