Lightrock Netherlands B.V. Invests $10.05 Million in QuidelOrtho Co. (NASDAQ:QDEL)

Lightrock Netherlands B.V. purchased a new stake in QuidelOrtho Co. (NASDAQ:QDEL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 224,476 shares of the company’s stock, valued at approximately $10,050,000. QuidelOrtho comprises about 3.5% of Lightrock Netherlands B.V.’s investment portfolio, making the stock its 7th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in QuidelOrtho in the 3rd quarter valued at $34,320,000. Rubric Capital Management LP boosted its position in shares of QuidelOrtho by 15.2% during the 3rd quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock valued at $191,520,000 after acquiring an additional 554,410 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of QuidelOrtho in the third quarter valued at about $19,565,000. Beaconlight Capital LLC acquired a new stake in QuidelOrtho during the third quarter worth about $18,152,000. Finally, State Street Corp raised its stake in QuidelOrtho by 16.9% during the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after purchasing an additional 275,522 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $42.89 on Tuesday. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $69.83. The stock’s fifty day moving average is $43.21 and its two-hundred day moving average is $42.31. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian J. Blaser acquired 6,033 shares of QuidelOrtho stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the completion of the purchase, the chief executive officer now owns 6,033 shares of the company’s stock, valued at approximately $249,886.86. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QDEL. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. Jefferies Financial Group started coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 target price for the company. Finally, StockNews.com raised QuidelOrtho from a “hold” rating to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, QuidelOrtho presently has a consensus rating of “Hold” and a consensus target price of $53.43.

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.