Lightrock Netherlands B.V. Has $12.77 Million Stake in QuidelOrtho Corporation (NASDAQ:QDEL)

Lightrock Netherlands B.V. boosted its stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 62.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 364,577 shares of the company's stock after purchasing an additional 140,101 shares during the quarter. QuidelOrtho comprises about 3.4% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 10th largest holding. Lightrock Netherlands B.V. owned about 0.54% of QuidelOrtho worth $12,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QDEL. T. Rowe Price Investment Management Inc. grew its stake in QuidelOrtho by 19.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock valued at $500,690,000 after acquiring an additional 1,840,667 shares during the period. Invesco Ltd. boosted its position in shares of QuidelOrtho by 71.7% during the fourth quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock worth $153,584,000 after buying an additional 1,439,293 shares during the period. Norges Bank acquired a new position in shares of QuidelOrtho during the fourth quarter worth about $34,171,000. Vanguard Group Inc. boosted its position in shares of QuidelOrtho by 12.6% during the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after buying an additional 764,900 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its position in shares of QuidelOrtho by 143.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,046,649 shares of the company's stock worth $46,628,000 after buying an additional 617,592 shares during the period. Institutional investors own 99.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on QDEL shares. Wall Street Zen upgraded QuidelOrtho from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price on the stock in a report on Thursday, May 8th. UBS Group dropped their target price on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.33.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $30.17 on Friday. The firm has a market cap of $2.04 billion, a P/E ratio of -6.07 and a beta of 0.07. The company has a current ratio of 1.20, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70. QuidelOrtho Corporation has a 1-year low of $23.77 and a 1-year high of $49.45. The business's 50 day moving average is $30.17 and its 200-day moving average is $35.63.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.13. The company had revenue of $692.80 million for the quarter, compared to analyst estimates of $694.97 million. QuidelOrtho had a positive return on equity of 4.71% and a negative net margin of 12.07%. The firm's quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. Equities research analysts predict that QuidelOrtho Corporation will post 2.3 earnings per share for the current 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.

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