Brian J. Blaser Buys 6,033 Shares of QuidelOrtho Co. (NASDAQ:QDEL) Stock

QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) CEO Brian J. Blaser acquired 6,033 shares of the company's stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $41.42 per share, for a total transaction of $249,886.86. Following the completion of the acquisition, the chief executive officer now owns 6,033 shares of the company's stock, valued at $249,886.86. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

QuidelOrtho Price Performance

QDEL traded down $0.25 on Friday, reaching $41.35. 567,712 shares of the company's stock were exchanged, compared to its average volume of 988,602. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $75.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The stock's fifty day moving average price is $40.04 and its 200-day moving average price is $40.08.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The business had revenue of $727.00 million for the quarter, compared to analysts' expectations of $642.16 million. During the same period in the previous year, the firm posted $0.90 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts anticipate that QuidelOrtho Co. will post 1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on QDEL shares. UBS Group assumed coverage on QuidelOrtho in a research report on Thursday, September 19th. They set a "neutral" rating and a $50.00 target price on the stock. William Blair reaffirmed a "market perform" rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Citigroup raised shares of 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 note on Wednesday. Craig Hallum raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and raised their price target for the company from $40.00 to $57.00 in a research note on Thursday, September 5th. Finally, Jefferies Financial Group assumed coverage on QuidelOrtho in a report on Tuesday. They issued a "hold" rating and a $43.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $53.43.

Institutional Trading of QuidelOrtho

Several large investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of QuidelOrtho in the 3rd quarter valued at approximately $25,000. Fifth Third Bancorp increased its stake in QuidelOrtho by 907.3% during the second quarter. Fifth Third Bancorp now owns 826 shares of the company's stock worth $27,000 after acquiring an additional 744 shares during the last quarter. Innealta Capital LLC purchased a new stake in QuidelOrtho in the second quarter valued at $102,000. GAMMA Investing LLC lifted its stake in shares of QuidelOrtho by 73.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,086 shares of the company's stock valued at $141,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of QuidelOrtho by 17,095.0% in the 2nd quarter. Quest Partners LLC now owns 3,439 shares of the company's stock valued at $114,000 after purchasing an additional 3,419 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.