QuidelOrtho (NASDAQ:QDEL) Shares Pass Above 200 Day Moving Average – Here’s What Happened

QuidelOrtho Corporation (NASDAQ:QDEL) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.36 and traded as high as $30.25. QuidelOrtho shares last traded at $30.06, with a volume of 807,851 shares trading hands.

Analyst Upgrades and Downgrades

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

QuidelOrtho Stock Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 1.78 and a quick ratio of 0.98. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -1.77 and a beta of 0.59. The stock has a 50-day moving average price of $26.60 and a 200 day moving average price of $27.36.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.29. The business 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%.QuidelOrtho’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. As a group, analysts anticipate that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Insider Buying and Selling at QuidelOrtho

In other news, CFO Joseph M. Busky bought 4,770 shares of the stock in a transaction on Monday, November 24th. The stock was purchased at an average price of $26.06 per share, for a total transaction of $124,306.20. Following the acquisition, the chief financial officer owned 6,920 shares in the company, valued at approximately $180,335.20. This trade represents a 221.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brian J. Blaser purchased 23,500 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average cost of $21.34 per share, for a total transaction of $501,490.00. Following the purchase, the chief executive officer directly 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. Additional details regarding this purchase are available in the official SEC disclosure. 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

Several institutional investors and hedge funds have recently modified their holdings of QDEL. Salomon & Ludwin LLC grew its stake in shares of QuidelOrtho by 100.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock worth $30,000 after acquiring an additional 496 shares in the last quarter. Allworth Financial LP boosted its holdings in QuidelOrtho by 2,460.9% during the second quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock worth $34,000 after purchasing an additional 1,132 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in QuidelOrtho by 118.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock worth $38,000 after purchasing an additional 693 shares during the last quarter. Larson Financial Group LLC grew its position in QuidelOrtho by 322.2% in the third quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock valued at $39,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in QuidelOrtho by 46.4% in the 2nd quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $57,000 after buying an additional 623 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

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.