QuidelOrtho (NASDAQ:QDEL) Reaches New 12-Month Low on Insider Selling

QuidelOrtho Co. (NASDAQ:QDELGet Free Report) shares hit a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $30.59 and last traded at $30.63, with a volume of 123088 shares traded. The stock had previously closed at $31.26.

Specifically, major shareholder Carlyle Group Inc. sold 127,981 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $36.19, for a total value of $4,631,632.39. Following the completion of the sale, the insider now owns 12,123,705 shares of the company’s stock, valued at $438,756,883.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 808,771 shares of company stock valued at $27,677,253. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada decreased their price target on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, QuidelOrtho has an average rating of “Hold” and a consensus target price of $59.00.

View Our Latest Analysis on QuidelOrtho

QuidelOrtho Stock Down 0.2 %

The firm has a 50 day moving average of $39.01 and a 200 day moving average of $49.43. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -1.14 and a beta of 0.07. The company has a quick ratio of 0.81, a current ratio of 1.55 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDELGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. The business had revenue of $711.00 million for the quarter, compared to analyst estimates of $697.33 million. As a group, sell-side analysts predict that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On QuidelOrtho

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in QuidelOrtho by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock valued at $233,906,000 after acquiring an additional 37,733 shares during the period. Rubric Capital Management LP grew its stake in QuidelOrtho by 230.6% in the fourth quarter. Rubric Capital Management LP now owns 980,063 shares of the company’s stock valued at $72,231,000 after acquiring an additional 683,637 shares during the period. LGT Capital Partners LTD. grew its stake in QuidelOrtho by 69.9% in the fourth quarter. LGT Capital Partners LTD. now owns 954,466 shares of the company’s stock valued at $70,344,000 after acquiring an additional 392,790 shares during the period. Dimensional Fund Advisors LP grew its stake in QuidelOrtho by 144.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock valued at $66,961,000 after acquiring an additional 536,492 shares during the period. Finally, LSV Asset Management grew its stake in QuidelOrtho by 5.3% in the fourth quarter. LSV Asset Management now owns 776,674 shares of the company’s stock valued at $57,241,000 after acquiring an additional 39,279 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

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 Articles

Receive News & Ratings for QuidelOrtho Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuidelOrtho and related companies with MarketBeat.com's FREE daily email newsletter.