Dimensional Fund Advisors LP Buys 212,481 Shares of QuidelOrtho Corporation $QDEL

Key Points

• Dimensional Fund Advisors increased its QuidelOrtho stake by 7.5%, adding 212,481 shares to hold 3.05 million shares, or about 4.48% of the company. Institutional investors and hedge funds collectively own 99% of QDEL.
• QuidelOrtho reported a quarterly loss of $0.04 per share and revenue of $619.8 million, missing analyst expectations of $0.37 EPS and $665.2 million in revenue; sales fell 10.5% year over year.
• Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $13.62, below the stock’s reported price of $16.77.

Dimensional Fund Advisors LP increased its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL - Free Report) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,048,768 shares of the company's stock after acquiring an additional 212,481 shares during the period. Dimensional Fund Advisors LP owned about 4.48% of QuidelOrtho worth $50,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in QDEL. Goodman Financial Corp boosted its stake in QuidelOrtho by 12.5% in the 1st quarter. Goodman Financial Corp now owns 437,157 shares of the company's stock worth $7,182,000 after purchasing an additional 48,405 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of QuidelOrtho by 24.9% in the first quarter. Illinois Municipal Retirement Fund now owns 43,751 shares of the company's stock valued at $719,000 after purchasing an additional 8,723 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of QuidelOrtho by 2.1% in the first quarter. Principal Financial Group Inc. now owns 331,184 shares of the company's stock valued at $5,441,000 after purchasing an additional 6,955 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of QuidelOrtho by 42,014.7% during the first quarter. Fifth Third Bancorp now owns 54,328 shares of the company's stock worth $893,000 after buying an additional 54,199 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of QuidelOrtho during the first quarter worth about $342,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Stock Performance

NASDAQ QDEL opened at $16.77 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. The firm's fifty day moving average price is $15.37 and its two-hundred day moving average price is $18.06. QuidelOrtho Corporation has a 1 year low of $9.92 and a 1 year high of $35.58. The firm has a market capitalization of $1.14 billion, a P/E ratio of -0.94 and a beta of 0.68.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on QDEL shares. Zacks Research upgraded QuidelOrtho from a "strong sell" rating to a "hold" rating in a research note on Monday, June 15th. Jefferies Financial Group reaffirmed a "hold" rating on shares of QuidelOrtho in a research note on Monday, June 29th. JPMorgan Chase & Co. lifted their price objective on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an "underweight" rating in a report on Wednesday, July 1st. Citigroup lifted their price objective on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Finally, UBS Group reissued a "neutral" rating and issued a $12.00 price objective on shares of QuidelOrtho in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $13.62.

QuidelOrtho 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.

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