Van Lanschot Kempen Investment Management N.V. Trims Stock Holdings in QuidelOrtho Corporation $QDEL

Key Points

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Van Lanschot Kempen Investment Management N.V. decreased its holdings in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 820,203 shares of the company's stock after selling 147,946 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned 1.22% of QuidelOrtho worth $28,682,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in QDEL. T. Rowe Price Investment Management Inc. increased its stake in QuidelOrtho by 19.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock valued at $500,690,000 after buying an additional 1,840,667 shares during the last quarter. AQR Capital Management LLC increased its stake in QuidelOrtho by 204.5% in the 4th quarter. AQR Capital Management LLC now owns 803,986 shares of the company's stock valued at $35,818,000 after buying an additional 539,977 shares during the last quarter. American Century Companies Inc. increased its stake in QuidelOrtho by 42.4% in the 1st quarter. American Century Companies Inc. now owns 1,588,645 shares of the company's stock valued at $55,555,000 after buying an additional 473,094 shares during the last quarter. Invesco Ltd. increased its stake in QuidelOrtho by 10.6% in the 1st quarter. Invesco Ltd. now owns 3,813,833 shares of the company's stock valued at $133,370,000 after buying an additional 366,387 shares during the last quarter. Finally, Engine Capital Management LP purchased a new stake in QuidelOrtho in the 4th quarter valued at about $14,773,000. Institutional investors own 99.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on QDEL shares. UBS Group decreased their price objective on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Citigroup decreased their price objective on shares of QuidelOrtho from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Jefferies Financial Group upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price objective for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $42.17.

QuidelOrtho Stock Performance

Shares of QDEL stock traded up $2.24 during trading hours on Friday, hitting $27.90. 1,749,020 shares of the company were exchanged, compared to its average volume of 1,405,976. The firm has a fifty day simple moving average of $27.11 and a 200 day simple moving average of $31.25. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. QuidelOrtho Corporation has a 52-week low of $22.05 and a 52-week high of $49.45. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -4.27 and a beta of -0.04.

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