Dimensional Fund Advisors LP Purchases 107,775 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Dimensional Fund Advisors LP raised its stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 9.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,217,126 shares of the company's stock after purchasing an additional 107,775 shares during the quarter. Dimensional Fund Advisors LP owned 1.81% of QuidelOrtho worth $54,221,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in QDEL. Corient Private Wealth LLC grew its position in shares of QuidelOrtho by 10.6% in the 4th quarter. Corient Private Wealth LLC now owns 6,874 shares of the company's stock worth $306,000 after buying an additional 661 shares during the period. CIBC Asset Management Inc boosted its stake in QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock worth $292,000 after acquiring an additional 816 shares in the last quarter. Blue Trust Inc. grew its holdings in QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after purchasing an additional 844 shares during the period. Alliancebernstein L.P. increased its stake in shares of QuidelOrtho by 4.4% during the fourth quarter. Alliancebernstein L.P. now owns 24,816 shares of the company's stock valued at $1,106,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of QuidelOrtho by 14.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 9,985 shares of the company's stock valued at $445,000 after purchasing an additional 1,289 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group upped their price target on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Royal Bank of Canada reduced their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, QuidelOrtho presently has a consensus rating of "Hold" and a consensus target price of $46.83.

QuidelOrtho Stock Performance

QDEL stock traded down $1.75 during midday trading on Tuesday, reaching $25.94. 2,386,386 shares of the company's stock traded hands, compared to its average volume of 1,016,845. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45. The stock has a market cap of $1.75 billion, a P/E ratio of -0.86 and a beta of 0.13. The stock's 50-day moving average is $32.07 and its 200 day moving average is $38.37.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates 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, analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current year.

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.