KLP Kapitalforvaltning AS Invests $586,000 in QuidelOrtho Co. (NASDAQ:QDEL)

KLP Kapitalforvaltning AS bought a new stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 13,146 shares of the company's stock, valued at approximately $586,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cerity Partners LLC purchased a new position in QuidelOrtho in the third quarter worth $605,000. FMR LLC lifted its stake in QuidelOrtho by 28.0% during the third quarter. FMR LLC now owns 1,256,356 shares of the company's stock worth $57,290,000 after purchasing an additional 274,633 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of QuidelOrtho by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,584 shares of the company's stock worth $7,186,000 after purchasing an additional 2,385 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of QuidelOrtho during the 3rd quarter valued at about $238,000. Finally, Parkman Healthcare Partners LLC bought a new position in shares of QuidelOrtho during the 3rd quarter valued at about $3,420,000. Hedge funds and other institutional investors own 99.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada cut their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Citigroup raised shares of QuidelOrtho from a "neutral" rating to a "buy" rating and increased their target price for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price target for the company. UBS Group raised their price objective on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $51.20.

QuidelOrtho Trading Up 0.8 %

Shares of QDEL stock traded up $0.23 during mid-day trading on Monday, reaching $28.36. The stock had a trading volume of 2,196,764 shares, compared to its average volume of 955,928. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The stock's 50-day moving average price is $38.72 and its two-hundred day moving average price is $40.82. The firm has a market capitalization of $1.91 billion, a PE ratio of -0.94 and a beta of 0.43. QuidelOrtho Co. has a 52-week low of $26.43 and a 52-week high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. Equities analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

About QuidelOrtho

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.