American Century Companies Inc. Boosts Stake in QuidelOrtho Corporation $QDEL

Key Points

• American Century Companies Inc. increased its stake in QuidelOrtho Corporation by **42.4%**, owning approximately **1.59 million shares** valued at around **$55.6 million**.
• QuidelOrtho's most recent quarterly earnings report showed an EPS of **$0.12**, significantly beating analyst estimates, although its quarterly revenue decreased by **3.6%** year-over-year.
• Analysts have mixed views on QuidelOrtho's stock, with target prices adjusted from highs of **$50** down to **$26**, alongside various ratings ranging from "Buy" to "Sell".

American Century Companies Inc. boosted its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 42.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,588,645 shares of the company's stock after buying an additional 473,094 shares during the period. American Century Companies Inc. owned approximately 2.36% of QuidelOrtho worth $55,555,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. LPL Financial LLC purchased a new position in shares of QuidelOrtho in the 4th quarter worth about $221,000. Raymond James Financial Inc. purchased a new position in shares of QuidelOrtho in the 4th quarter worth about $2,169,000. Sterling Capital Management LLC boosted its holdings in shares of QuidelOrtho by 75.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock worth $166,000 after purchasing an additional 1,601 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of QuidelOrtho by 2,170.1% in the 4th quarter. Marshall Wace LLP now owns 240,292 shares of the company's stock worth $10,705,000 after purchasing an additional 229,707 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of QuidelOrtho by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,217,126 shares of the company's stock worth $54,221,000 after purchasing an additional 107,775 shares in the last quarter. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Trading Down 0.9%

NASDAQ:QDEL traded down $0.25 during mid-day trading on Monday, reaching $27.65. 1,471,934 shares of the company's stock traded hands, compared to its average volume of 1,433,429. QuidelOrtho Corporation has a 12-month low of $22.05 and a 12-month high of $49.45. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -4.23 and a beta of -0.04. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 0.62. The company has a 50 day moving average price of $27.08 and a 200-day moving average price of $30.98.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.11. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The company had revenue of $613.90 million for the quarter, compared to the consensus estimate of $612.36 million. During the same quarter in the previous year, the business earned ($0.07) EPS. QuidelOrtho's revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on QDEL shares. UBS Group cut their price objective on QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price objective for the company in a report on Thursday, May 8th. Wall Street Zen cut QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Citigroup cut their price objective on QuidelOrtho from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $42.17.

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.