QuidelOrtho Corporation $QDEL Shares Sold by Van Lanschot Kempen Investment Management N.V.

Key Points

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Van Lanschot Kempen Investment Management N.V. lowered its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 15.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 820,203 shares of the company's stock after selling 147,946 shares during the period. Van Lanschot Kempen Investment Management N.V. owned about 1.22% of QuidelOrtho worth $28,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its holdings in QuidelOrtho by 7.7% during the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock worth $336,000 after buying an additional 538 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in QuidelOrtho by 2.9% during the first quarter. Yousif Capital Management LLC now owns 25,950 shares of the company's stock worth $907,000 after buying an additional 734 shares in the last quarter. Rhumbline Advisers boosted its holdings in QuidelOrtho by 0.6% during the first quarter. Rhumbline Advisers now owns 129,025 shares of the company's stock worth $4,512,000 after buying an additional 770 shares in the last quarter. True Wealth Design LLC boosted its holdings in QuidelOrtho by 300.7% during the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock worth $48,000 after buying an additional 806 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in QuidelOrtho by 1.6% during the first quarter. New York State Teachers Retirement System now owns 56,900 shares of the company's stock worth $1,990,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company's stock.

QuidelOrtho Trading Up 8.7%

Shares of NASDAQ:QDEL traded up $2.24 during trading on Friday, reaching $27.90. The stock had a trading volume of 1,749,020 shares, compared to its average volume of 1,433,429. The business has a fifty day moving average price of $27.11 and a 200-day moving average price of $31.09. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1.89 billion, a P/E ratio of -4.27 and a beta of -0.04. QuidelOrtho Corporation has a fifty-two week low of $22.05 and a fifty-two week high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.11. The business had revenue of $613.90 million during the quarter, compared to analyst estimates of $612.36 million. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The company's revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) earnings per share. As a group, analysts anticipate that QuidelOrtho Corporation will post 2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QDEL has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a report on Thursday, May 8th. Citigroup reduced their price target on shares of QuidelOrtho from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, UBS Group reduced their price target on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $42.17.

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.