Fifth Third Bancorp Has $893,000 Holdings in QuidelOrtho Corporation $QDEL

Fifth Third Bancorp raised its stake in QuidelOrtho Corporation (NASDAQ:QDEL) by 42,014.7% in the first quarter, Holdings Channel.com reports. The firm owned 54,328 shares of the company’s stock after acquiring an additional 54,199 shares during the period. Fifth Third Bancorp’s holdings in QuidelOrtho were worth $893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its holdings in shares of QuidelOrtho by 50.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock worth $31,000 after purchasing an additional 362 shares during the period. ProShare Advisors LLC raised its position in shares of QuidelOrtho by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock valued at $376,000 after buying an additional 388 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of QuidelOrtho by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 38,333 shares of the company’s stock valued at $1,093,000 after buying an additional 424 shares during the period. California State Teachers Retirement System lifted its stake in shares of QuidelOrtho by 1.2% in the second quarter. California State Teachers Retirement System now owns 62,188 shares of the company’s stock valued at $1,792,000 after buying an additional 725 shares during the period. Finally, Global Retirement Partners LLC grew its position in QuidelOrtho by 3,691.7% during the fourth quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock worth $26,000 after buying an additional 886 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on QDEL shares. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Friday, July 17th. UBS Group reiterated a “neutral” rating and issued a $12.00 price objective on shares of QuidelOrtho in a research report on Thursday, May 7th. Citigroup lifted their price objective on QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Wall Street Zen upgraded QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, JPMorgan Chase & Co. upped their target price on QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $13.62.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock opened at $16.05 on Monday. The firm has a market cap of $1.09 billion, a P/E ratio of -0.90 and a beta of 0.69. The firm’s 50-day simple moving average is $14.87 and its 200-day simple moving average is $18.64. QuidelOrtho Corporation has a twelve month low of $9.92 and a twelve month high of $35.58. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.43.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.41). QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The business had revenue of $619.80 million during the quarter, compared to analyst estimates of $665.23 million. During the same period last year, the company earned $0.74 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. As a group, research analysts expect that QuidelOrtho Corporation will post 1.87 EPS for the current fiscal year.

QuidelOrtho Company Profile

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.