Key Points
- CFO purchase: QuidelOrtho CFO Joseph Busky bought 4,770 shares on Nov. 24 at $26.06 each for $124,306.20, raising his holding 221.86% to 6,920 shares.
- Earnings and guidance: The company beat quarterly estimates with $0.80 EPS (vs. $0.51) and $699.9M revenue, but reported a negative net margin and year-over-year revenue decline, while FY2025 guidance is $2.00–2.15 EPS (analysts ~2.3).
- Market and analyst context: QDEL opened at $28.14 with a $1.91B market cap and a 52-week range of $19.50–$49.45; analysts' consensus is "Reduce" with an average price target of $38.20, and ~99% of shares are institutionally owned.
QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) CFO Joseph Busky acquired 4,770 shares of the firm's stock in a transaction dated Monday, November 24th. The stock was bought at an average price of $26.06 per share, with a total value of $124,306.20. Following the purchase, the chief financial officer directly owned 6,920 shares in the company, valued at approximately $180,335.20. This trade represents a 221.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
QuidelOrtho Stock Up 5.9%
QDEL stock opened at $28.14 on Wednesday. The company's 50 day moving average price is $26.72 and its 200 day moving average price is $27.87. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -4.30 and a beta of 0.35. QuidelOrtho Corporation has a fifty-two week low of $19.50 and a fifty-two week high of $49.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12.
QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $667.45 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The firm'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. On average, equities research analysts anticipate that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.
Institutional Trading of QuidelOrtho
Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new position in QuidelOrtho during the 3rd quarter worth approximately $213,000. Verition Fund Management LLC lifted its stake in 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 buying an additional 24,031 shares during the last quarter. Newtyn Management LLC boosted its holdings in shares of 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 acquiring an additional 994,332 shares during the period. Millennium Management LLC purchased a new position in shares of QuidelOrtho during the third quarter worth approximately $10,932,000. Finally, Larson Financial Group LLC increased 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 acquiring an additional 1,015 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on QDEL. Zacks Research downgraded shares of QuidelOrtho from a "hold" rating to a "strong sell" rating in a research note on Monday, October 13th. UBS Group upped their price objective on QuidelOrtho from $26.00 to $31.00 and gave the stock a "neutral" rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. dropped their price objective on QuidelOrtho from $26.00 to $22.00 and set an "underweight" rating on the stock in a report on Friday, November 7th. Weiss Ratings restated a "sell (e+)" rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $38.20.
Read Our Latest Research Report on QDEL
QuidelOrtho Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
