Kornitzer Capital Management Inc. KS Boosts Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Kornitzer Capital Management Inc. KS grew its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 46.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 207,685 shares of the company’s stock after buying an additional 66,080 shares during the period. Kornitzer Capital Management Inc. KS owned 0.31% of QuidelOrtho worth $9,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of QuidelOrtho by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock valued at $233,906,000 after purchasing an additional 37,733 shares during the last quarter. Rubric Capital Management LP lifted its stake in QuidelOrtho by 51.9% in the second quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company’s stock valued at $121,106,000 after buying an additional 1,245,590 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of QuidelOrtho by 27.5% in the second quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock valued at $57,434,000 after acquiring an additional 372,662 shares during the period. Private Management Group Inc. increased its holdings in shares of QuidelOrtho by 2.6% in the 3rd quarter. Private Management Group Inc. now owns 626,705 shares of the company’s stock valued at $28,578,000 after acquiring an additional 16,084 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in QuidelOrtho by 9.8% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 593,157 shares of the company’s stock worth $19,705,000 after purchasing an additional 52,729 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

QDEL has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. Finally, UBS Group initiated coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.83.

QuidelOrtho Stock Down 2.8 %

QuidelOrtho stock opened at $38.85 on Friday. The stock’s 50 day moving average price is $42.24 and its 200 day moving average price is $40.42. The company has a market cap of $2.61 billion, a PE ratio of -1.40 and a beta of 0.12. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $75.86.

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.