QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

The Commonwealth of Pennsylvania Public School Employees' Retirement System (PSERS) is a public pension fund that manages retirement benefits for public school employees in the state of Pennsylvania. In its most recent filing with the Securities and Exchange Commission (SEC), PSERS disclosed that it had sold 16,081 shares of QuidelOrtho Co.'s NASDAQQDEL stock during the third quarter, which represents a 61.6% reduction in its position in the company.

Before selling these shares, PSERS owned a total of 26,170 shares of QuidelOrtho Co.'s stock. After selling 16,081 shares during the quarter, PSERS now owns 10,099 shares of the company's stock. This reduction in position was likely made for various reasons, such as rebalancing its portfolio or adjusting its investment strategy based on changes in the market or the performance of the company.

QuidelOrtho Co. is a medical diagnostics company that develops and sells rapid diagnostic tests for infectious diseases. The company's NASDAQQDEL stock represents ownership in the company and entitles shareholders to a portion of its profits and other benefits. By selling shares of QuidelOrtho Co.'s stock, PSERS is essentially transferring ownership of those shares to another investor or the public market.

It's worth noting that institutional investors like PSERS often have large positions in publicly traded companies and can significantly impact the price of a company's stock through their buying and selling activities. However, it's important to remember that institutional investors like PSERS are typically long-term investors and make investment decisions based on a variety of factors, including the company's financial performance, growth prospects, and overall market conditions.