Van Lanschot Kempen Investment Management N.V. Increases Position in QuidelOrtho Co. (NASDAQ:QDEL)

Van Lanschot Kempen Investment Management N.V. grew its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 968,149 shares of the company's stock after acquiring an additional 77,213 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned about 1.44% of QuidelOrtho worth $43,131,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after buying an additional 844 shares during the last quarter. Spire Wealth Management purchased a new position in QuidelOrtho in the 4th quarter worth $74,000. KBC Group NV lifted its position in QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock worth $153,000 after acquiring an additional 1,895 shares during the period. Sterling Capital Management LLC raised its stake in shares of QuidelOrtho by 75.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock worth $166,000 after purchasing an additional 1,601 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in QuidelOrtho during the 4th quarter valued at approximately $221,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Monday. StockNews.com cut QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. 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 report on Thursday, February 13th. Finally, UBS Group raised their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, QuidelOrtho presently has a consensus rating of "Hold" and an average price target of $46.83.

QuidelOrtho Price Performance

Shares of QDEL stock traded up $0.31 during trading hours on Friday, hitting $28.09. 1,190,998 shares of the company's stock were exchanged, compared to its average volume of 1,048,062. The firm has a 50 day moving average of $33.89 and a two-hundred day moving average of $39.02. QuidelOrtho Co. has a fifty-two week low of $23.77 and a fifty-two week high of $49.45. The firm has a market cap of $1.89 billion, a P/E ratio of -0.93 and a beta of 0.43. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results 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 72.84% and a positive return on equity of 3.78%. Sell-side analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current year.

QuidelOrtho Company 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.