QuidelOrtho (NASDAQ:QDEL) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

QDEL has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, November 7th. Citigroup reissued a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a research report on Tuesday, October 7th. Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, UBS Group lifted their target price on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, QuidelOrtho has a consensus rating of “Reduce” and a consensus target price of $38.20.

QuidelOrtho Stock Performance

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 company has a market capitalization of $1.96 billion, a PE ratio of -1.70 and a beta of 0.58. The business has a 50 day simple moving average of $26.65 and a 200 day simple moving average of $27.39.

QuidelOrtho (NASDAQ:QDEL) last posted 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 firm had revenue of $699.90 million for the quarter, compared to the consensus estimate of $667.45 million. QuidelOrtho had a negative net margin of 42.53% and a positive return on equity of 5.75%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Equities research analysts predict that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian J. Blaser acquired 23,500 shares of the stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $21.34 per share, for a total transaction of $501,490.00. Following the completion of the purchase, the chief executive officer owned 29,533 shares of the company’s stock, valued at approximately $630,234.22. This represents a 389.52% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph M. Busky acquired 4,770 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were bought at an average cost of $26.06 per share, for a total transaction of $124,306.20. Following the completion of the acquisition, the chief financial officer directly owned 6,920 shares of the company’s stock, valued at approximately $180,335.20. The trade was a 221.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 29,390 shares of company stock valued at $657,340. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of QuidelOrtho by 34.3% in the second quarter. Rhumbline Advisers now owns 173,267 shares of the company’s stock worth $4,994,000 after buying an additional 44,242 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in QuidelOrtho by 147.5% in the second quarter. Clear Harbor Asset Management LLC now owns 34,186 shares of the company’s stock valued at $985,000 after acquiring an additional 20,374 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in QuidelOrtho in the 1st quarter worth approximately $411,000. Nordea Investment Management AB acquired a new stake in shares of QuidelOrtho during the 2nd quarter worth approximately $2,609,000. Finally, Lightrock Netherlands B.V. increased its holdings in shares of QuidelOrtho by 27.8% during the 2nd quarter. Lightrock Netherlands B.V. now owns 466,000 shares of the company’s stock valued at $13,430,000 after purchasing an additional 101,423 shares in the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

About QuidelOrtho

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.