Insider Buying: QuidelOrtho (NASDAQ:QDEL) Director Buys 750 Shares of Stock

QuidelOrtho Corporation (NASDAQ:QDEL) Director Ann Rhoads acquired 750 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was acquired at an average price of $28.27 per share, for a total transaction of $21,202.50. Following the acquisition, the director owned 15,021 shares of the company’s stock, valued at approximately $424,643.67. This trade represents a 5.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

QuidelOrtho Stock Up 5.0%

Shares of QDEL stock traded up $1.36 during trading hours on Wednesday, hitting $28.80. 1,427,468 shares of the company’s stock traded hands, compared to its average volume of 1,334,466. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $26.47 and its two-hundred day simple moving average is $27.49. QuidelOrtho Corporation has a 12-month low of $19.50 and a 12-month high of $49.45. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -1.69 and a beta of 0.58.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. The company had revenue of $699.90 million during the quarter, compared to analyst estimates of $667.45 million. QuidelOrtho had a positive return on equity of 5.75% and a negative net margin of 42.53%.The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. On average, analysts expect that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, November 7th. UBS Group raised their price objective on shares of QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Zacks Research downgraded shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Wednesday, October 8th. Finally, Citigroup reiterated a “neutral” rating and set a $33.00 target price (down from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $38.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bfsg LLC boosted its holdings in QuidelOrtho by 6.8% in the second quarter. Bfsg LLC now owns 5,460 shares of the company’s stock worth $157,000 after purchasing an additional 347 shares during the last quarter. Quarry LP raised its stake in QuidelOrtho by 47.1% during the 1st quarter. Quarry LP now owns 1,436 shares of the company’s stock valued at $50,000 after buying an additional 460 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of QuidelOrtho by 1.8% during the 2nd quarter. Yousif Capital Management LLC now owns 26,428 shares of the company’s stock valued at $762,000 after buying an additional 478 shares during the period. Salomon & Ludwin LLC boosted its stake in shares of QuidelOrtho by 100.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock worth $30,000 after buying an additional 496 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in shares of QuidelOrtho by 1.9% in the second quarter. Texas Permanent School Fund Corp now owns 30,379 shares of the company’s stock worth $876,000 after acquiring an additional 578 shares during the period. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Company Profile

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.