SCHEDULE: Neuberger Berman Adjusts Stake in QuidelOrtho

Neuberger Berman Group LLC and its affiliate Neuberger Berman Investment Advisers LLC have updated their beneficial ownership filing for QuidelOrtho Corp, reporting a combined 4.9% stake.

Summary

• Neuberger Berman Group LLC and Neuberger Berman Investment Advisers LLC have filed an amendment to their Schedule 13G, reporting their beneficial ownership of QuidelOrtho Corp common stock.
• The filing indicates that Neuberger Berman Group LLC beneficially owns 3,381,189 shares, representing 4.9% of the class.
• Neuberger Berman Investment Advisers LLC beneficially owns 3,030,743 shares, representing 4.4% of the class.
• These holdings are reported as being acquired and held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports a change in beneficial ownership percentage without disclosing new strategic or financial performance information.

Positives

• The filing confirms continued investment by a significant financial institution in QuidelOrtho Corp.
• The reporting entities are investment advisers and a holding company, suggesting a professional and regulated approach to ownership.

Negatives

• The filing does not provide any new financial performance data or strategic updates for QuidelOrtho Corp.
• The specific reasons for the exact share amounts and percentages are not detailed.

Risks

• Potential for further changes in beneficial ownership by Neuberger Berman, which could impact stock price or corporate strategy.
• The filing does not offer insights into the underlying performance or future prospects of QuidelOrtho Corp, leaving investors to seek this information elsewhere.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding QuidelOrtho Corp's future performance.

Management Comments

• "This report is not an admission that any of these entities are the beneficial owner of the securities covered by this report and each of Neuberger Berman Group LLC, Neuberger Berman Investment Advisers Holdings LLC, Neuber Trust Holdings LLC, Neuberger Berman Trust Co N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC, Neuberger Berman Trust Co of Delaware N.A. and Neuberger Berman Investment Advisers LLC and certain affiliated persons disclaim beneficial ownership of the securities covered by this statement pursuant to Exchange Act Rule 13d-4."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors and indicate significant holdings but do not necessarily reflect a change in investment strategy or a view on the company's immediate prospects. This filing suggests Neuberger Berman continues to hold a substantial position in the diagnostics and healthcare sector.

Stakeholder Impact

• Shareholders: May be interested in the continued significant stake held by Neuberger Berman, potentially indicating confidence in the company's long-term value, but the filing itself does not provide new performance information.
• Management of QuidelOrtho Corp: Will note the reporting of substantial beneficial ownership by institutional investors.

Next Steps

• Continued monitoring of Neuberger Berman's beneficial ownership filings for any further changes.
• Investors should refer to QuidelOrtho Corp's other SEC filings for financial and operational updates.

Key Dates

Keywords

QuidelOrtho Corp, Neuberger Berman, Schedule 13G, Beneficial Ownership, Investment Advisers, Common Stock, Securities Exchange Act