Leeward Investments LLC MA Sells 8,897 Shares of QuidelOrtho Corporation $QDEL

Leeward Investments LLC MA cut its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,066 shares of the company’s stock after selling 8,897 shares during the period. Leeward Investments LLC MA’s holdings in QuidelOrtho were worth $5,679,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of QDEL. Wealth Enhancement Advisory Services LLC lifted its stake in shares of QuidelOrtho by 108.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,012 shares of the company’s stock valued at $2,483,000 after acquiring an additional 36,867 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of QuidelOrtho by 1.6% in the 1st quarter. New York State Teachers Retirement System now owns 56,900 shares of the company’s stock valued at $1,990,000 after acquiring an additional 900 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of QuidelOrtho in the 1st quarter valued at $344,000. Principal Financial Group Inc. lifted its stake in shares of QuidelOrtho by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 326,996 shares of the company’s stock valued at $11,435,000 after acquiring an additional 7,788 shares during the last quarter. Finally, Lightrock Netherlands B.V. lifted its stake in shares of QuidelOrtho by 62.4% in the 1st quarter. Lightrock Netherlands B.V. now owns 364,577 shares of the company’s stock valued at $12,771,000 after acquiring an additional 140,101 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock opened at $30.51 on Monday. 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 business has a 50-day moving average price of $28.32 and a two-hundred day moving average price of $28.39. QuidelOrtho Corporation has a 1-year low of $22.05 and a 1-year high of $49.45. The company has a market cap of $2.07 billion, a P/E ratio of -4.67 and a beta of 0.27.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.11. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The firm had revenue of $613.90 million during the quarter, compared to the consensus estimate of $612.36 million. During the same period last year, the business posted ($0.07) EPS. The business’s revenue was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen cut QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research lowered QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Citigroup reaffirmed a “neutral” rating and set a $33.00 target price (down from $40.00) on shares of QuidelOrtho in a research report on Tuesday, October 7th. UBS Group lowered their target price on QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research report on Saturday. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $37.80.

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.