QuidelOrtho (NASDAQ:QDEL) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.38 and traded as high as $29.69. QuidelOrtho shares last traded at $28.59, with a volume of 670,349 shares.

Wall Street Analysts Forecast Growth

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

QuidelOrtho Stock Performance

The company’s fifty day simple moving average is $26.62 and its 200 day simple moving average is $27.38. The stock has a market capitalization of $1.94 billion, a P/E ratio of -1.68 and a beta of 0.58. The company has a current ratio of 1.78, a quick ratio of 0.98 and a debt-to-equity ratio of 1.23.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.29. The firm had revenue of $699.90 million for the quarter, compared to analysts’ expectations of $667.45 million. QuidelOrtho had a negative net margin of 42.53% and a positive return on equity of 5.75%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. As a group, sell-side analysts forecast that QuidelOrtho Corporation will post 2.3 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Brian J. Blaser acquired 23,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $21.34 per share, for a total transaction of $501,490.00. Following the completion of the transaction, the chief executive officer owned 29,533 shares in the company, valued at approximately $630,234.22. This trade represents a 389.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph M. Busky bought 4,770 shares of the company’s stock in a transaction on Monday, November 24th. The shares were bought at an average price of $26.06 per share, with a total value of $124,306.20. Following the completion of the transaction, the chief financial officer owned 6,920 shares of the company’s stock, valued at $180,335.20. The trade was a 221.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 29,390 shares of company stock valued at $657,340 in the last three months. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of QuidelOrtho by 230.3% during the 1st quarter. AQR Capital Management LLC now owns 2,655,576 shares of the company’s stock valued at $90,130,000 after buying an additional 1,851,590 shares in the last quarter. Invesco Ltd. boosted its stake in shares of QuidelOrtho by 87.0% in the 3rd quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock valued at $85,604,000 after purchasing an additional 1,352,503 shares in the last quarter. Newtyn Management LLC boosted its stake in shares of QuidelOrtho by 58.3% in the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock valued at $79,515,000 after purchasing an additional 994,332 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of QuidelOrtho by 201.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 941,370 shares of the company’s stock valued at $27,130,000 after purchasing an additional 629,246 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in QuidelOrtho by 46.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,678,670 shares of the company’s stock worth $48,385,000 after purchasing an additional 529,770 shares during the period. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Company 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.