Van Lanschot Kempen Investment Management N.V. Purchases 77,213 Shares of 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 fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 968,149 shares of the company's stock after buying an additional 77,213 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned approximately 1.44% of QuidelOrtho worth $43,131,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Corient Private Wealth LLC lifted its position in shares of QuidelOrtho by 10.6% during the 4th quarter. Corient Private Wealth LLC now owns 6,874 shares of the company's stock valued at $306,000 after acquiring an additional 661 shares during the period. CIBC Asset Management Inc raised its holdings in shares of QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock valued at $292,000 after purchasing an additional 816 shares during the period. Blue Trust Inc. boosted its position in shares of QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after purchasing an additional 844 shares in the last quarter. Alliancebernstein L.P. increased its position in QuidelOrtho by 4.4% in the 4th quarter. Alliancebernstein L.P. now owns 24,816 shares of the company's stock valued at $1,106,000 after buying an additional 1,040 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in QuidelOrtho by 14.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 9,985 shares of the company's stock worth $445,000 after buying an additional 1,289 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Stock Performance

QDEL stock traded up $0.31 during midday trading on Friday, hitting $28.09. The company's stock had a trading volume of 1,190,998 shares, compared to its average volume of 998,114. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -0.93 and a beta of 0.43. The stock's 50-day moving average price is $33.62 and its 200 day moving average price is $38.92. 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 Co. has a 1 year low of $23.77 and a 1 year high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly 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 positive return on equity of 3.78% and a negative net margin of 72.84%. On average, equities analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on QDEL shares. JPMorgan Chase & Co. decreased their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a report on Monday, April 21st. UBS Group lifted their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Royal Bank of Canada dropped their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, QuidelOrtho currently has a consensus rating of "Hold" and a consensus price target of $46.83.

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.