QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. lowered its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 85.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,848 shares of the company’s stock after selling 66,923 shares during the period. Phocas Financial Corp.’s holdings in QuidelOrtho were worth $528,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rubric Capital Management LP boosted its position in QuidelOrtho by 15.2% during the 3rd quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock valued at $191,520,000 after purchasing an additional 554,410 shares during the period. State Street Corp lifted its stake in QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after buying an additional 275,522 shares during the last quarter. FMR LLC boosted its holdings in shares of QuidelOrtho by 28.0% during the third quarter. FMR LLC now owns 1,256,356 shares of the company’s stock valued at $57,290,000 after acquiring an additional 274,633 shares during the period. Geode Capital Management LLC grew its position in shares of QuidelOrtho by 1.8% during the third quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock worth $41,996,000 after acquiring an additional 16,059 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of QuidelOrtho in the 3rd quarter worth about $34,320,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, CEO Brian J. Blaser bought 6,033 shares of QuidelOrtho stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $249,886.86. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

QDEL has been the subject of a number of analyst reports. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. UBS Group increased their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Royal Bank of Canada decreased their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. 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 stock currently has a consensus rating of “Hold” and an average target price of $51.20.

QuidelOrtho Price Performance

NASDAQ QDEL opened at $41.19 on Wednesday. The firm has a market capitalization of $2.77 billion, a PE ratio of -1.36 and a beta of 0.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $49.45. The company’s 50 day simple moving average is $43.41 and its 200 day simple moving average is $42.40.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share 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%. As a group, equities research analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

QuidelOrtho 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.