Invesco Ltd. Has $133.37 Million Stock Position in QuidelOrtho Corporation (NASDAQ:QDEL)

Invesco Ltd. grew its stake in QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 10.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,813,833 shares of the company's stock after buying an additional 366,387 shares during the period. Invesco Ltd. owned approximately 5.65% of QuidelOrtho worth $133,370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Deutsche Bank AG lifted its position in shares of QuidelOrtho by 215.2% in the first quarter. Deutsche Bank AG now owns 358,889 shares of the company's stock worth $12,550,000 after buying an additional 245,033 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of QuidelOrtho in the first quarter worth about $332,000. Phocas Financial Corp. lifted its position in shares of QuidelOrtho by 46.2% in the first quarter. Phocas Financial Corp. now owns 114,223 shares of the company's stock worth $3,994,000 after buying an additional 36,091 shares during the last quarter. Goodman Financial Corp lifted its position in shares of QuidelOrtho by 5.4% in the first quarter. Goodman Financial Corp now owns 323,313 shares of the company's stock worth $11,306,000 after buying an additional 16,529 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of QuidelOrtho by 11.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,773 shares of the company's stock worth $587,000 after purchasing an additional 1,721 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Price Performance

Shares of NASDAQ:QDEL opened at $25.95 on Friday. QuidelOrtho Corporation has a 1-year low of $22.05 and a 1-year high of $49.45. The firm has a market capitalization of $1.76 billion, a PE ratio of -3.97 and a beta of -0.04. The business's 50 day moving average is $27.55 and its 200-day moving average is $31.96. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $612.36 million. During the same quarter last year, the firm earned ($0.07) EPS. QuidelOrtho's revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts predict that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

QDEL has been the topic of a number of research analyst reports. Wall Street Zen lowered QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group lowered their target price on QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. lowered their target price on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Jefferies Financial Group raised QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price on the stock in a report on Thursday, May 8th. Finally, Citigroup lowered their target price on QuidelOrtho from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, QuidelOrtho presently 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.

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