VIRGINIA RETIREMENT SYSTEMS ET Al Has $465,000 Position in QuidelOrtho Corporation $QDEL

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 59.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,800 shares of the company’s stock after selling 23,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in QuidelOrtho were worth $465,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QDEL. Allworth Financial LP lifted its stake in QuidelOrtho by 2,460.9% during the second quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock worth $34,000 after purchasing an additional 1,132 shares during the last quarter. Blue Trust Inc. lifted its position in shares of QuidelOrtho by 46.4% during the 2nd quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $57,000 after buying an additional 623 shares during the last quarter. Tableaux LLC acquired a new stake in QuidelOrtho in the second quarter valued at about $93,000. EverSource Wealth Advisors LLC boosted its stake in QuidelOrtho by 250.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,230 shares of the company’s stock valued at $93,000 after buying an additional 2,309 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in QuidelOrtho by 298.1% in the second quarter. Osaic Holdings Inc. now owns 3,300 shares of the company’s stock valued at $95,000 after acquiring an additional 2,471 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QDEL has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, November 7th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Citigroup reaffirmed a “neutral” rating and set a $33.00 target price (down previously from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, UBS Group raised their price objective on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $38.20.

QuidelOrtho Price Performance

Shares of NASDAQ:QDEL opened at $30.06 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.98 and a current ratio of 1.78. QuidelOrtho Corporation has a 52 week low of $19.50 and a 52 week high of $49.45. The firm has a market cap of $2.04 billion, a PE ratio of -1.77 and a beta of 0.59. The firm’s fifty day moving average is $26.60 and its 200-day moving average is $27.36.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.29. The business had revenue of $699.90 million during the quarter, compared to analyst estimates of $667.45 million. QuidelOrtho had a positive return on equity of 5.75% and a negative net margin of 42.53%.QuidelOrtho’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Sell-side analysts predict that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Insider Transactions at QuidelOrtho

In related news, CEO Brian J. Blaser acquired 23,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $21.34 per share, with a total value of $501,490.00. Following the completion of the purchase, the chief executive officer directly owned 29,533 shares in the company, valued at $630,234.22. The trade was a 389.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Joseph M. Busky bought 4,770 shares of QuidelOrtho stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average price of $26.06 per share, for a total transaction of $124,306.20. Following the completion of the acquisition, the chief financial officer directly owned 6,920 shares of the company’s stock, valued at $180,335.20. The trade was a 221.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 29,390 shares of company stock valued at $657,340 over the last 90 days. 0.79% of the stock is owned by corporate insiders.

QuidelOrtho Profile

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.