Invesco Ltd. Boosts Position in QuidelOrtho Co. (NASDAQ:QDEL)

Invesco Ltd. lifted its position in QuidelOrtho Co. (NASDAQ:QDEL) by 71.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,447,446 shares of the company’s stock after buying an additional 1,439,293 shares during the quarter. Invesco Ltd. owned approximately 0.05% of QuidelOrtho worth $153,584,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of QDEL. Cerity Partners LLC raised its position in shares of QuidelOrtho by 112.3% in the fourth quarter. Cerity Partners LLC now owns 28,164 shares of the company’s stock worth $1,259,000 after buying an additional 14,898 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of QuidelOrtho by 17.7% in the 4th quarter. Geode Capital Management LLC now owns 1,083,461 shares of the company’s stock valued at $48,285,000 after acquiring an additional 162,758 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of QuidelOrtho by 4.4% during the 4th quarter. Alliancebernstein L.P. now owns 24,816 shares of the company’s stock valued at $1,106,000 after acquiring an additional 1,040 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of QuidelOrtho by 39.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 9,588 shares of the company’s stock worth $427,000 after purchasing an additional 2,721 shares in the last quarter. Finally, Norges Bank bought a new position in shares of QuidelOrtho in the fourth quarter worth approximately $34,171,000. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock opened at $26.91 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. QuidelOrtho Co. has a 52-week low of $25.13 and a 52-week high of $49.45. The company has a fifty day moving average of $36.77 and a 200-day moving average of $40.14. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -0.89 and a beta of 0.43.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. Equities research analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on QDEL shares. Royal Bank of Canada dropped their target price 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. UBS Group upped their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, QuidelOrtho presently has a consensus rating of “Hold” and an average price target of $51.20.

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.