Leeward Investments LLC MA Has $9.51 Million Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Leeward Investments LLC MA lowered its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 7.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 213,446 shares of the company’s stock after selling 16,401 shares during the period. Leeward Investments LLC MA owned about 0.32% of QuidelOrtho worth $9,509,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Rubric Capital Management LP raised its holdings in shares of QuidelOrtho by 15.2% during the 3rd quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock worth $191,520,000 after buying an additional 554,410 shares in the last quarter. State Street Corp increased its holdings in QuidelOrtho by 16.9% in the 3rd 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 in the last quarter. FMR LLC increased its holdings in QuidelOrtho by 28.0% in the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in QuidelOrtho by 1.8% in the 3rd 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 in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in QuidelOrtho in the 3rd quarter worth about $34,320,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. UBS Group upped their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Royal Bank of Canada lowered their target price on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group began coverage on QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price target on the stock. Finally, William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.20.

QuidelOrtho Trading Down 1.4 %

NASDAQ QDEL opened at $40.46 on Friday. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $49.45. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average price is $43.45 and its two-hundred day moving average price is $42.38. The firm has a market capitalization of $2.72 billion, a PE ratio of -1.34 and a beta of 0.08.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Wednesday, February 12th. The company reported $0.63 EPS 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, analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current year.

Insider Activity at QuidelOrtho

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

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.