New York State Teachers Retirement System Buys 4,392 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

New York State Teachers Retirement System increased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,300 shares of the company’s stock after buying an additional 4,392 shares during the quarter. New York State Teachers Retirement System owned 0.08% of QuidelOrtho worth $2,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of QuidelOrtho by 907.3% in the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after acquiring an additional 744 shares in the last quarter. GAMMA Investing LLC grew its position in QuidelOrtho by 27.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after purchasing an additional 378 shares in the last quarter. Headlands Technologies LLC purchased a new stake in QuidelOrtho in the 1st quarter valued at about $86,000. Innealta Capital LLC bought a new position in shares of QuidelOrtho during the 2nd quarter worth approximately $102,000. Finally, Quest Partners LLC boosted its stake in shares of QuidelOrtho by 17,095.0% in the 2nd quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after buying an additional 3,419 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on QDEL. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a research report on Friday, August 16th. UBS Group assumed coverage on QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price for the company. Finally, Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $57.00 in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.83.

QuidelOrtho Stock Performance

NASDAQ:QDEL opened at $38.85 on Friday. QuidelOrtho Co. has a 1 year low of $29.74 and a 1 year high of $75.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79. The business has a fifty day simple moving average of $42.24 and a two-hundred day simple moving average of $40.42. The company has a market capitalization of $2.61 billion, a P/E ratio of -1.40 and a beta of 0.12.

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.