QuidelOrtho Co. (NASDAQ:QDEL) Shares Bought by Leeward Investments LLC MA

Leeward Investments LLC MA grew its position in QuidelOrtho Co. (NASDAQ:QDEL) by 82.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 227,717 shares of the company’s stock after purchasing an additional 102,668 shares during the period. Leeward Investments LLC MA’s holdings in QuidelOrtho were worth $16,783,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC increased its position in QuidelOrtho by 109.0% during the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after purchasing an additional 181 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in QuidelOrtho during the 3rd quarter worth about $106,000. Cetera Trust Company N.A purchased a new stake in QuidelOrtho during the 4th quarter worth about $108,000. C M Bidwell & Associates Ltd. purchased a new stake in QuidelOrtho during the 3rd quarter worth about $123,000. Finally, Bfsg LLC purchased a new stake in QuidelOrtho during the 4th quarter worth about $146,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky bought 2,150 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $46.35 per share, with a total value of $99,652.50. Following the transaction, the chief financial officer now directly owns 2,150 shares in the company, valued at approximately $99,652.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on QDEL. UBS Group reiterated a “sell” rating and set a $42.00 price objective (down previously from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Raymond James restated an “outperform” rating and issued a $76.00 price target (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. William Blair restated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. JPMorgan Chase & Co. cut QuidelOrtho from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $66.00 to $37.00 in a report on Wednesday, February 14th. Finally, Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.60.

QuidelOrtho Price Performance

NASDAQ QDEL opened at $39.64 on Friday. QuidelOrtho Co. has a 1-year low of $37.78 and a 1-year high of $95.02. The company has a quick ratio of 0.88, a current ratio of 1.57 and a debt-to-equity ratio of 0.45. The business’s 50-day simple moving average is $44.54 and its 200-day simple moving average is $59.67.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.84). The company had revenue of $742.60 million for the quarter, compared to analyst estimates of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The business’s revenue was down 14.3% on a year-over-year basis. During the same period last year, the firm posted $1.74 earnings per share. On average, research analysts anticipate that QuidelOrtho Co. will post 2.28 earnings per share for the current 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.