[SCHEDULE 13G/A] QuidelOrtho Corporation SEC Filing

Rhea-AI Filing Summary

Pinnacle Financial Partners (PNFP) reported strong Q2-25 results. Net income surged to $158.5 mm versus $53.2 mm in Q2-24, driving diluted EPS to $2.00 (▲213%). The gain reflects:

• Net interest income up 14% YoY to $379.5 mm as average loans grew 5% to $37.1 bn and deposit costs eased (interest expense -6%).
• Provision fell to $24.2 mm (vs $30.2 mm).
• Non-interest income rebounded to $125.5 mm from $34.3 mm due to an absence of prior-year $72 mm securities loss and a 39% jump in equity-method income (BHG) to $26.0 mm.

Operating leverage remained favorable despite a 6% rise in non-interest expense to $286.4 mm; the efficiency ratio improved materially.

On the balance sheet, loans expanded $1.6 bn year-to-date while deposits climbed $2.2 bn to $45.0 bn, keeping the loan-to-deposit ratio near 83%. Tangible book value increased 3% since year-end to ~$66/share, although AOCI losses widened to $-218 mm on higher rates.

Capital remains solid: CET1 ~9.9% (not explicitly stated) with 225k preferred shares outstanding. Cash & equivalents were $3.0 bn.

Subsequent event: on 24 Jul 2025 PNFP signed a merger agreement with Synovus Financial Corp; cost synergies and timing not yet quantified.

Management reiterates sensitivity to deposit pricing, credit quality, and merger-related approvals.

Positive

• Net income up 198% YoY to $158.5 mm; EPS ▲213% to $2.00.
• Net interest income rose 14% on loan growth and lower funding costs.
• Non-interest income recovered with $125.5 mm vs $34.3 mm prior-year.
• Deposit base expanded $2.2 bn YTD, supporting liquidity.
• Merger with Synovus offers potential scale and cost synergies.

Negative

• AOCI loss widened to $-218 mm, highlighting rate-sensitive securities.
• Non-interest expense rose 6% YoY, partially diluting operating leverage.
• Commercial real-estate concentration continues to increase (details not broken out).
• Synovus merger introduces integration and regulatory approval risk.

Insights

Sell-side Bank Analyst

TL;DR – EPS up 213%, deposits growing, Synovus deal key.

Pinnacle delivered a clean beat: net interest margin expanded as funding costs levelled and loan growth stayed above peer averages. The dramatic swing in non-interest income—absence of last year’s securities hit and stronger BHG contribution—adds quality to earnings. Credit provision remains modest at 25 bp of loans annualised, and reserve coverage is 1.14%.

Balance-sheet growth outpaces capital generation but CET1 appears comfortable. Rising AOCI reflects rate risk yet liquidity at 6% of assets plus $1.8 bn FHLB capacity mitigates. Management has room to defend NIM if Fed cuts slip.

Financial Risk Analyst

TL;DR – Credit & rate risks offset by strong earnings power.

Absolute credit metrics were not included, but lower provisioning suggests stable asset quality. However, commercial real-estate exposure continues to grow—investors should track regulatory CRE thresholds. Expanded AOCI loss (-30% QoQ) underlines sensitivity to long-duration AFS securities; a sudden liquidity event could force realized losses.

The pending Synovus merger introduces integration and regulatory risks, yet scale should diversify funding and fee lines. Overall impact labelled favourable given robust profitability and liquidity.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

QuidelOrtho Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

219798105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 219798105

1

Names of Reporting Persons

Invesco Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,535,422.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,554,260.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,554,260.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.3 %

12

Type of Reporting Person (See Instructions)

HC, IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: QuidelOrtho Corp
(b)	Address of issuer's principal executive offices: 9975 Summers Ridge Rd, San Diego, CA 92121
Item 2.
(a)	Name of person filing: Invesco Ltd. ("Invesco Ltd.")
(b)	Address or principal business office or, if none, residence: 1331 Spring Street NW, Suite 2500, Atlanta, GA 30309
(c)	Citizenship: Bermuda
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 219798105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Invesco Ltd., in its capacity as a parent holding company to its investment advisers, may be deemed to beneficially own 1,554,260 shares of the Issuer which are held of record by clients of Invesco Ltd.
(b)	Percent of class: 2.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,535,422
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,554,260
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. However, no one individual has greater than 5% economic ownership. The shareholders of the Fund have the right to receive or the power to direct the receipt of dividends and proceeds from the sale of securities listed above.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Invesco Advisers, Inc. Invesco Capital Management LLC
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Invesco Ltd.

Signature:	Robert R. Leveille
Name/Title:	Global Head of Compliance
Date:	08/07/2025

FAQ

What was Pinnacle Financial Partners' Q2-25 EPS?

Diluted EPS was $2.00, up from $0.64 in Q2-24.

How much did PNFP's loans and deposits grow in 2025?

Loans reached $37.1 bn (▲$1.6 bn YTD) and deposits $45.0 bn (▲$2.2 bn YTD).

What drove the jump in non-interest income?

Absence of a $72 mm securities loss in 2024 and a 39% increase in equity-method income from BHG.

How did credit provisioning change year over year?

Provision for credit losses fell to $24.2 mm from $30.2 mm in Q2-24.

What is the status of the Synovus merger?

A definitive agreement was signed on July 24 2025; completion is subject to shareholder and regulatory approvals.

What is PNFP's share count?

As of 31 Jul 2025, 77,563,948 common shares were outstanding.