QuidelOrtho (NASDAQ:QDEL) Trading Down 3.2% – Should You Sell?

Shares of QuidelOrtho Co. (NASDAQ:QDEL) traded down 3.2% during mid-day trading on Tuesday . The stock traded as low as $43.02 and last traded at $43.19. 52,723 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 806,820 shares. The stock had previously closed at $44.61.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. UBS Group started coverage on shares of QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target for the company. Finally, Jefferies Financial Group started coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, QuidelOrtho has an average rating of “Hold” and an average price target of $53.43.

QuidelOrtho Trading Down 7.9 %

The business’s fifty day moving average price is $42.00 and its 200 day moving average price is $40.93. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $2.76 billion, a PE ratio of -1.47 and a beta of 0.08.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The firm had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same quarter in the prior year, the business posted $0.90 earnings per share. QuidelOrtho’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts expect that QuidelOrtho Co. will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total transaction of $291,667,061.73. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian J. Blaser bought 6,033 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was 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 in the company, valued at approximately $249,886.86. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuidelOrtho

Several institutional investors and hedge funds have recently made changes to their positions in QDEL. Capital Performance Advisors LLP acquired a new stake in shares of QuidelOrtho during the third quarter worth $25,000. Quest Partners LLC raised its stake in QuidelOrtho by 17,095.0% during the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after acquiring an additional 3,419 shares during the period. GAMMA Investing LLC lifted its holdings in QuidelOrtho by 73.6% in the third quarter. GAMMA Investing LLC now owns 3,086 shares of the company’s stock worth $141,000 after acquiring an additional 1,308 shares during the last quarter. Federated Hermes Inc. boosted its stake in QuidelOrtho by 148.4% in the second quarter. Federated Hermes Inc. now owns 6,018 shares of the company’s stock valued at $200,000 after acquiring an additional 3,595 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of QuidelOrtho by 4,460.0% during the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock valued at $208,000 after purchasing an additional 4,460 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

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.