QuidelOrtho Co. (NASDAQ:QDEL) CEO Buys $249,886.86 in Stock

QuidelOrtho Co. (NASDAQ:QDEL) CEO Brian J. Blaser purchased 6,033 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now directly owns 6,033 shares of the company’s stock, valued at approximately $249,886.86. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

QuidelOrtho Price Performance

Shares of QDEL opened at $41.35 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81. The company has a market cap of $2.78 billion, a P/E ratio of -1.48 and a beta of 0.11. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $75.86. The stock has a fifty day moving average price of $39.99 and a 200 day moving average price of $40.04.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.55. The business had revenue of $727.00 million for the quarter, compared to analysts’ expectations of $642.16 million. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. On average, research analysts forecast that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

Analyst Ratings Changes

QDEL has been the subject of several recent analyst reports. Jefferies Financial Group began coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective for the company. UBS Group started coverage on QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price objective for the company. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Finally, Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.43.

Hedge Funds Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in QuidelOrtho during the 3rd quarter valued at $25,000. Fifth Third Bancorp lifted its holdings in QuidelOrtho by 907.3% in the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after purchasing an additional 744 shares during the period. Innealta Capital LLC bought a new position in QuidelOrtho in the 2nd quarter valued at about $102,000. GAMMA Investing LLC increased its stake in QuidelOrtho by 73.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,086 shares of the company’s stock valued at $141,000 after buying an additional 1,308 shares during the period. Finally, Quest Partners LLC raised its position in shares of QuidelOrtho by 17,095.0% during the 2nd quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after buying an additional 3,419 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

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.