QuidelOrtho Corporation $QDEL Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in QuidelOrtho Corporation by 10.6% in the first quarter, now holding approximately 5.65% of the company valued at $133.37 million.
• QuidelOrtho reported earnings of $0.12 EPS for the quarter, surpassing estimates, although its revenue decreased 3.6% year-over-year.
• Analysts have mixed ratings on QuidelOrtho, with one sell rating, three holds, and four buy ratings, reflecting diverse outlooks on the stock's future performance.

Invesco Ltd. lifted its holdings in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 10.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in QuidelOrtho by 19.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock worth $500,690,000 after purchasing an additional 1,840,667 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in QuidelOrtho by 5.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,977,697 shares of the company's stock worth $88,106,000 after purchasing an additional 100,522 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in QuidelOrtho by 23.1% during the first quarter. Segall Bryant & Hamill LLC now owns 1,288,718 shares of the company's stock worth $45,066,000 after purchasing an additional 242,069 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in QuidelOrtho by 9.7% during the fourth 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. Finally, Van Lanschot Kempen Investment Management N.V. raised its holdings in QuidelOrtho by 8.7% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 968,149 shares of the company's stock worth $43,131,000 after purchasing an additional 77,213 shares in the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QDEL has been the subject of several analyst reports. Citigroup dropped their target price on shares of QuidelOrtho from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. JPMorgan Chase & Co. dropped their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a report on Monday, April 21st. UBS Group dropped their target price on shares of QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Wall Street Zen cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price for the company in a report on Thursday, May 8th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, QuidelOrtho currently has an average rating of "Hold" and an average price target of $42.17.

QuidelOrtho Trading Up 2.0%

NASDAQ QDEL traded up $0.5280 during mid-day trading on Tuesday, reaching $26.3480. 150,646 shares of the stock were exchanged, compared to its average volume of 1,317,007. QuidelOrtho Corporation has a 1-year low of $22.05 and a 1-year high of $49.45. The business's fifty day simple moving average is $27.39 and its 200 day simple moving average is $31.54. The stock has a market capitalization of $1.79 billion, a PE ratio of -4.04 and a beta of -0.04. 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 (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share (EPS) 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 firm had revenue of $613.90 million for the quarter, compared to analyst estimates of $612.36 million. During the same quarter last year, the business earned ($0.07) earnings per share. QuidelOrtho's revenue was down 3.6% compared to the same quarter last year. On average, research analysts anticipate that QuidelOrtho Corporation will post 2.3 earnings per share for the current fiscal year.

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.