Invesco Ltd. Has $153.58 Million Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Invesco Ltd. boosted its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 71.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,447,446 shares of the company’s stock after acquiring an additional 1,439,293 shares during the quarter. Invesco Ltd. owned 5.13% of QuidelOrtho worth $153,584,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after purchasing an additional 275,522 shares during the last quarter. Merit Financial Group LLC bought a new stake in QuidelOrtho in the 4th quarter worth about $301,000. Principal Financial Group Inc. increased its stake in QuidelOrtho by 64.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock valued at $12,405,000 after buying an additional 106,642 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of QuidelOrtho by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock worth $41,996,000 after buying an additional 16,059 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of QuidelOrtho by 22.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 54,411 shares of the company’s stock worth $2,424,000 after buying an additional 9,956 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on QDEL. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Royal Bank of Canada decreased their target price on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, UBS Group lifted their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, QuidelOrtho presently has an average rating of “Hold” and a consensus target price of $51.20.

QuidelOrtho Stock Up 1.9 %

QDEL stock opened at $26.91 on Friday. The stock has a fifty day moving average of $36.77 and a 200-day moving average of $40.14. QuidelOrtho Co. has a fifty-two week low of $25.13 and a fifty-two week high of $49.45. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -0.89 and a beta of 0.43. 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 (NASDAQ:QDEL) last posted its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. As a group, equities research analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current 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.