Lightrock Netherlands B.V. Purchases 32,524 Shares of QuidelOrtho Corporation $QDEL

Lightrock Netherlands B.V. increased its position in QuidelOrtho Corporation (NASDAQ:QDEL) by 7.0% in the third quarter, HoldingsChannel reports. The firm owned 498,524 shares of the company’s stock after purchasing an additional 32,524 shares during the quarter. QuidelOrtho accounts for approximately 3.3% of Lightrock Netherlands B.V.’s holdings, making the stock its 12th biggest holding. Lightrock Netherlands B.V.’s holdings in QuidelOrtho were worth $14,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC lifted its position in QuidelOrtho by 100.6% during the third quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock valued at $30,000 after buying an additional 496 shares during the period. Allworth Financial LP increased its stake in shares of QuidelOrtho by 2,460.9% in the 2nd quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock worth $34,000 after acquiring an additional 1,132 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in QuidelOrtho by 118.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock valued at $38,000 after acquiring an additional 693 shares during the period. Blue Trust Inc. boosted its stake in QuidelOrtho by 46.4% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $57,000 after acquiring an additional 623 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in QuidelOrtho by 250.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,230 shares of the company’s stock worth $93,000 after purchasing an additional 2,309 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky purchased 4,770 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were acquired at an average cost of $26.06 per share, for a total transaction of $124,306.20. Following the completion of the transaction, the chief financial officer owned 6,920 shares of the company’s stock, valued at approximately $180,335.20. The trade was a 221.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian J. Blaser acquired 23,500 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average cost of $21.34 per share, with a total value of $501,490.00. Following the transaction, the chief executive officer owned 29,533 shares in the company, valued at approximately $630,234.22. This trade represents a 389.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 29,390 shares of company stock valued at $657,340 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

QuidelOrtho Stock Performance

Shares of QDEL opened at $28.09 on Friday. The firm has a market capitalization of $1.91 billion, a P/E ratio of -1.65 and a beta of 0.59. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.78 and a quick ratio of 0.98. QuidelOrtho Corporation has a one year low of $19.50 and a one year high of $46.24. The business has a fifty day moving average of $28.91 and a 200 day moving average of $27.71.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.29. The business had revenue of $699.90 million for the quarter, compared to analysts’ expectations of $667.45 million. QuidelOrtho had a positive return on equity of 5.75% and a negative net margin of 42.53%.The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. As a group, sell-side analysts anticipate that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on QDEL. JPMorgan Chase & Co. dropped their price target on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, November 7th. Citigroup reissued a “neutral” rating and issued a $33.00 target price (down from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. UBS Group lifted their price target on QuidelOrtho from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research report on Thursday. Finally, Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, QuidelOrtho has an average rating of “Hold” and an average price target of $39.00.

About QuidelOrtho

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.