Insider Buying: QuidelOrtho (NASDAQ:QDEL) CFO Purchases 4,770 Shares of Stock

QuidelOrtho Corporation (NASDAQ:QDEL) CFO Joseph Busky purchased 4,770 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average price of $26.06 per share, with a total value of $124,306.20. Following the acquisition, the chief financial officer directly owned 6,920 shares of the company’s stock, valued at $180,335.20. This trade represents a 221.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

QuidelOrtho Trading Up 5.9%

QDEL traded up $1.56 during trading on Tuesday, hitting $28.14. 1,129,283 shares of the stock were exchanged, compared to its average volume of 1,349,665. QuidelOrtho Corporation has a 1 year low of $19.50 and a 1 year high of $49.45. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -4.30 and a beta of 0.35. The firm has a 50 day simple moving average of $26.74 and a 200 day simple moving average of $27.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.29. The firm had revenue of $699.90 million during the quarter, compared to the consensus estimate of $667.45 million. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. As a group, equities analysts expect that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

QDEL has been the subject of several research reports. Citigroup reaffirmed a “neutral” rating and set a $33.00 price objective (down previously 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 report on Monday, October 13th. JPMorgan Chase & Co. cut their target price on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a research note on Friday, November 7th. UBS Group raised their price target on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, QuidelOrtho presently has an average rating of “Reduce” and a consensus price target of $38.20.

Institutional Investors Weigh In On QuidelOrtho

Institutional investors have recently made changes to their positions in the stock. Bfsg LLC raised its stake in QuidelOrtho by 6.8% in the 2nd quarter. Bfsg LLC now owns 5,460 shares of the company’s stock valued at $157,000 after purchasing an additional 347 shares during the last quarter. Quarry LP grew its holdings in shares of QuidelOrtho by 47.1% during the first quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after buying an additional 460 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of QuidelOrtho by 1.8% in the second 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 last quarter. Salomon & Ludwin LLC lifted its stake in shares of QuidelOrtho by 100.6% during the third quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock valued at $30,000 after buying an additional 496 shares during the period. Finally, Texas Permanent School Fund Corp raised its holdings in QuidelOrtho by 1.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 30,379 shares of the company’s stock valued at $876,000 after acquiring an additional 578 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

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.