QuidelOrtho (NASDAQ:QDEL) CEO Brian Blaser Purchases 23,500 Shares of Stock

QuidelOrtho Corporation (NASDAQ:QDEL) CEO Brian Blaser purchased 23,500 shares of QuidelOrtho stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average price of $21.34 per share, with a total value of $501,490.00. Following the completion of the transaction, the chief executive officer owned 29,533 shares of the company’s stock, valued at $630,234.22. This represents a 389.52% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

QuidelOrtho Trading Up 6.5%

QuidelOrtho stock opened at $22.70 on Friday. The firm has a market cap of $1.54 billion, a PE ratio of -3.47 and a beta of 0.35. QuidelOrtho Corporation has a 12 month low of $19.50 and a 12 month high of $49.45. The stock’s 50 day simple moving average is $26.87 and its two-hundred day simple moving average is $27.99. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $667.45 million. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Analysts anticipate that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Institutional Trading of QuidelOrtho

Several large investors have recently bought and sold shares of QDEL. Verition Fund Management LLC increased its holdings in shares of QuidelOrtho by 52.6% in the third quarter. Verition Fund Management LLC now owns 69,736 shares of the company’s stock valued at $2,054,000 after purchasing an additional 24,031 shares during the last quarter. Newtyn Management LLC raised its position in QuidelOrtho by 58.3% in the third 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 during the period. Millennium Management LLC acquired a new stake in shares of QuidelOrtho in the third quarter valued at $10,932,000. Larson Financial Group LLC raised its holdings in shares of QuidelOrtho by 322.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock valued at $39,000 after buying an additional 1,015 shares during the period. Finally, Humankind Investments LLC acquired a new position in QuidelOrtho during the 3rd quarter worth about $242,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on QDEL shares. Wall Street Zen lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. cut their price objective on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday, November 7th. UBS Group increased their target price on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $38.20.

About QuidelOrtho

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.