American Century Companies Inc. Acquires 473,094 Shares of 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. grew its position in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 42.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $43,000. True Wealth Design LLC grew its holdings in shares of QuidelOrtho by 300.7% in the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $48,000 after buying an additional 806 shares during the period. State of Wyoming acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $164,000. Sterling Capital Management LLC boosted its stake in 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 during the period. Finally, Humankind Investments LLC acquired a new position in QuidelOrtho in the 4th quarter worth $211,000. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Trading Up 8.7%

Shares of NASDAQ:QDEL traded up $2.24 during mid-day trading on Friday, reaching $27.90. 1,749,020 shares of the company's stock were exchanged, compared to its average volume of 1,405,976. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -4.27 and a beta of -0.04. The business's fifty day moving average price is $27.11 and its 200-day moving average price is $31.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12. QuidelOrtho Corporation has a twelve month low of $22.05 and a twelve month high of $49.45.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Citigroup dropped their target price on shares of QuidelOrtho from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. UBS Group lowered their price target on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a report on Thursday, May 8th. 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, the company has a consensus rating of "Hold" and a consensus target price of $42.17.

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.