Short Interest in QuidelOrtho Co. (NASDAQ:QDEL) Increases By 27.6%

QuidelOrtho Co. (NASDAQ:QDEL) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 4,350,000 shares, a growth of 27.6% from the January 31st total of 3,410,000 shares. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is currently 4.3 days.

QuidelOrtho Trading Up 0.3 %

Shares of QuidelOrtho stock traded up $0.12 during mid-day trading on Thursday, hitting $39.79. The stock had a trading volume of 161,658 shares, compared to its average volume of 936,494. The firm has a 50-day moving average of $42.86 and a two-hundred day moving average of $42.26. The firm has a market cap of $2.68 billion, a P/E ratio of -1.31 and a beta of 0.08. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. QuidelOrtho has a 12-month low of $29.74 and a 12-month high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. Sell-side analysts forecast that QuidelOrtho will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on QDEL. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. UBS Group raised their price target on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. Jefferies Financial Group began coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective for the company. Finally, William Blair restated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.20.

Insiders Place Their Bets

In other news, CEO Brian J. Blaser acquired 6,033 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of $41.42 per share, for a total transaction of $249,886.86. Following the purchase, the chief executive officer now owns 6,033 shares in the company, valued at approximately $249,886.86. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuidelOrtho

A number of institutional investors have recently made changes to their positions in QDEL. Voya Investment Management LLC raised its position in QuidelOrtho by 7.7% in the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company’s stock valued at $336,000 after purchasing an additional 538 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of QuidelOrtho in the third quarter valued at approximately $25,000. Corient Private Wealth LLC increased its stake in QuidelOrtho by 10.6% during the 4th quarter. Corient Private Wealth LLC now owns 6,874 shares of the company’s stock worth $306,000 after buying an additional 661 shares during the period. True Wealth Design LLC increased its stake in QuidelOrtho by 300.7% during the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $48,000 after buying an additional 806 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in QuidelOrtho by 14.2% during the 4th quarter. CIBC Asset Management Inc now owns 6,564 shares of the company’s stock worth $292,000 after buying an additional 816 shares in the last quarter. 99.00% of the stock is currently 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.