Lightrock Netherlands B.V. Takes $10.05 Million Position in QuidelOrtho Co. (NASDAQ:QDEL)

Lightrock Netherlands B.V. acquired a new stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 224,476 shares of the company's stock, valued at approximately $10,050,000. QuidelOrtho comprises about 3.5% of Lightrock Netherlands B.V.'s portfolio, making the stock its 7th largest position. Lightrock Netherlands B.V. owned 0.33% of QuidelOrtho as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Stephens Inc. AR acquired a new stake in QuidelOrtho in the 4th quarter valued at approximately $664,000. State of Alaska Department of Revenue grew its holdings in QuidelOrtho by 13.6% in the 4th quarter. State of Alaska Department of Revenue now owns 37,497 shares of the company's stock valued at $1,670,000 after buying an additional 4,501 shares during the last quarter. Yousif Capital Management LLC grew its holdings in QuidelOrtho by 11.7% in the 4th quarter. Yousif Capital Management LLC now owns 25,216 shares of the company's stock valued at $1,123,000 after buying an additional 2,646 shares during the last quarter. Spire Wealth Management acquired a new stake in QuidelOrtho in the 4th quarter valued at approximately $74,000. Finally, Gagnon Securities LLC lifted its position in shares of QuidelOrtho by 45.4% in the 4th quarter. Gagnon Securities LLC now owns 91,060 shares of the company's stock worth $4,057,000 after acquiring an additional 28,431 shares during the period. Institutional investors and hedge funds own 99.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group raised their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday. StockNews.com upgraded QuidelOrtho from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Royal Bank of Canada reduced their price objective on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Thursday. Jefferies Financial Group assumed coverage on QuidelOrtho in a research report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price objective for the company. Finally, Citigroup upgraded QuidelOrtho from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $52.71.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of QuidelOrtho stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total value of $291,667,061.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian J. Blaser acquired 6,033 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now owns 6,033 shares in the company, valued at approximately $249,886.86. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock traded down $1.08 during midday trading on Friday, hitting $40.57. 1,445,774 shares of the company were exchanged, compared to its average volume of 942,446. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81. The firm has a market cap of $2.73 billion, a P/E ratio of -1.45 and a beta of 0.08. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $49.56. The firm has a 50 day simple moving average of $43.36 and a 200-day simple moving average of $42.34.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. Research analysts forecast that QuidelOrtho Co. will post 1.73 earnings per share for the current 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.