Joseph Jr. Wilkins Purchases 370 Shares of QuidelOrtho (NASDAQ:QDEL) Stock

QuidelOrtho Corporation (NASDAQ:QDEL) Director Joseph Jr. Wilkins acquired 370 shares of QuidelOrtho stock in a transaction on Wednesday, November 26th. The shares were bought at an average cost of $27.95 per share, for a total transaction of $10,341.50. Following the completion of the transaction, the director owned 11,876 shares in the company, valued at approximately $331,934.20. This trade represents a 3.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

QuidelOrtho Trading Up 0.2%

NASDAQ:QDEL opened at $26.53 on Wednesday. The company has a 50-day moving average price of $26.56 and a 200-day moving average price of $27.60. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -4.06 and a beta of 0.58. 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 Corporation has a 12 month low of $19.50 and a 12 month high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly 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. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The company had revenue of $699.90 million for the quarter, compared to analysts’ expectations of $667.45 million. During the same quarter in the previous year, the company earned $0.85 earnings per share. QuidelOrtho’s quarterly revenue was down 3.7% on a year-over-year basis. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Equities analysts predict that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Hedge Funds Weigh In On QuidelOrtho

Several large investors have recently modified their holdings of QDEL. Salomon & Ludwin LLC grew its position in QuidelOrtho by 100.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock valued at $30,000 after purchasing an additional 496 shares during the last quarter. Allworth Financial LP lifted its stake in shares of QuidelOrtho by 2,460.9% in the second quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock worth $34,000 after buying an additional 1,132 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of QuidelOrtho during the first quarter valued at approximately $36,000. Nisa Investment Advisors LLC increased its position in shares of QuidelOrtho by 118.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock valued at $38,000 after acquiring an additional 693 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in QuidelOrtho by 322.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock worth $39,000 after acquiring an additional 1,015 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on QDEL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Citigroup reaffirmed a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. UBS Group raised their price objective on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, November 7th. 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 investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $38.20.

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.