QuidelOrtho Co. (NASDAQ:QDEL) Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its holdings in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 71.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,447,446 shares of the company's stock after purchasing an additional 1,439,293 shares during the quarter. Invesco Ltd. owned approximately 5.13% of QuidelOrtho worth $153,584,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in QuidelOrtho by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock valued at $303,716,000 after purchasing an additional 764,900 shares in the last quarter. State Street Corp grew its position in shares of QuidelOrtho by 16.9% during the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company's stock worth $87,000,000 after buying an additional 275,522 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of QuidelOrtho by 14.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company's stock valued at $62,666,000 after buying an additional 173,174 shares during the period. American Century Companies Inc. lifted its stake in QuidelOrtho by 72.6% in the fourth quarter. American Century Companies Inc. now owns 1,115,551 shares of the company's stock worth $49,698,000 after acquiring an additional 469,132 shares during the period. Finally, Geode Capital Management LLC grew its holdings in QuidelOrtho by 17.7% during the 4th quarter. Geode Capital Management LLC now owns 1,083,461 shares of the company's stock worth $48,285,000 after acquiring an additional 162,758 shares in the last quarter. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Stock Performance

QDEL stock traded down $0.10 during trading on Thursday, hitting $25.17. 938,597 shares of the company traded hands, compared to its average volume of 988,342. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. QuidelOrtho Co. has a 1 year low of $24.55 and a 1 year high of $49.45. The stock's 50-day simple moving average is $35.77 and its 200 day simple moving average is $39.79. The company has a market cap of $1.70 billion, a PE ratio of -0.83 and a beta of 0.43.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. On average, equities analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada decreased their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. StockNews.com downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Finally, UBS Group increased their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, QuidelOrtho presently has a consensus rating of "Hold" and a consensus price target of $51.20.

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.