QuidelOrtho Sees Unusually Large Options Volume (NASDAQ:QDEL)

QuidelOrtho Co. (NASDAQ:QDEL) was the target of unusually large options trading activity on Friday. Stock traders purchased 2,023 put options on the stock. This is an increase of 595% compared to the typical daily volume of 291 put options.

Institutional Trading of QuidelOrtho

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of QuidelOrtho during the third quarter worth $25,000. Fifth Third Bancorp grew its position in QuidelOrtho by 907.3% during the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after purchasing an additional 744 shares during the period. GAMMA Investing LLC raised its stake in shares of QuidelOrtho by 27.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after buying an additional 378 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of QuidelOrtho in the 1st quarter valued at about $86,000. Finally, Innealta Capital LLC purchased a new stake in shares of QuidelOrtho in the second quarter worth about $102,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on QDEL shares. Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.83.

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $36.18 on Friday. The business has a fifty day moving average of $42.03 and a 200 day moving average of $40.45. QuidelOrtho has a 1 year low of $29.74 and a 1 year 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.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.55. The firm had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. Equities research analysts anticipate that QuidelOrtho will post 1.72 earnings per share for the current fiscal year.

About QuidelOrtho

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.