State Board of Administration of Florida Retirement System Lowers Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

State Board of Administration of Florida Retirement System reduced its position in QuidelOrtho Co. (NASDAQ:QDELGet Rating) by 3.0% in the 2nd quarter, Holdings Channel reports. The fund owned 43,848 shares of the company’s stock after selling 1,372 shares during the period. State Board of Administration of Florida Retirement System’s holdings in QuidelOrtho were worth $4,261,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. New Century Advisors LLC boosted its holdings in shares of QuidelOrtho by 52.6% in the 2nd quarter. New Century Advisors LLC now owns 351 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of QuidelOrtho by 5.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 2,797 shares of the company’s stock valued at $315,000 after purchasing an additional 146 shares during the last quarter. Gladius Capital Management LP boosted its holdings in shares of QuidelOrtho by 21.0% in the 1st quarter. Gladius Capital Management LP now owns 880 shares of the company’s stock valued at $99,000 after purchasing an additional 153 shares during the last quarter. US Bancorp DE boosted its holdings in shares of QuidelOrtho by 11.4% in the 2nd quarter. US Bancorp DE now owns 1,609 shares of the company’s stock valued at $156,000 after purchasing an additional 165 shares during the last quarter. Finally, Lindenwold Advisors boosted its holdings in shares of QuidelOrtho by 6.2% in the 1st quarter. Lindenwold Advisors now owns 3,092 shares of the company’s stock valued at $348,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $93.35 on Monday. QuidelOrtho Co. has a 12 month low of $66.88 and a 12 month high of $180.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.66 and a quick ratio of 1.15. The firm has a market capitalization of $6.17 billion, a P/E ratio of 4.97 and a beta of 0.28. The company’s fifty day moving average price is $79.95 and its two-hundred day moving average price is $90.54.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on QDEL shares. UBS Group upgraded shares of QuidelOrtho from a “sell” rating to a “neutral” rating and set a $86.00 price target on the stock in a report on Friday, October 14th. JPMorgan Chase & Co. reduced their target price on shares of QuidelOrtho from $100.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. StockNews.com began coverage on shares of QuidelOrtho in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Citigroup began coverage on shares of QuidelOrtho in a report on Monday, September 19th. They set a “neutral” rating and a $90.00 target price on the stock. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $99.75.

QuidelOrtho Profile

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QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies across the continuum of healthcare testing needs. 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.

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Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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