Insider Selling: BUECHLER KENNETH F, QuidelOrtho Corporation [QDEL] Director divested 8,081 shares


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. QuidelOrtho Corporation shares valued at $729,366 were sold by BUECHLER KENNETH F on Feb 17. At $90.26 per share, BUECHLER KENNETH F sold 8,081 shares. The insider’s holdings dropped to 70,288 shares worth approximately $6.2 million following the completion of this transaction.

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Also, POLAN MARY LAKE PH D sold 1,525 shares, netting a total of over 173,227 in proceeds. Following the sale of shares at $113.59 each, the insider now holds 18,162 shares.

As published in a research note from Citigroup on December 12, 2022, QuidelOrtho Corporation [QDEL] has been rated up from a Neutral to a Buy and the price target has been revised to $125 from $90. This represents a 29.4% premium over Thursday’s closing price. Analysts at RBC Capital Mkts started covering the stock with ‘”an Outperform”‘ outlook in a report released in early December. As of October 14, 2022, UBS has increased its “Sell” rating to a “Neutral” for QDEL. Earlier on September 19, 2022, Citigroup initiated its rating. Their recommendation was “a Neutral” for QDEL stock.

Analyzing QDEL Stock Performance

On Thursday, QuidelOrtho Corporation [NASDAQ: QDEL] rose 3.26% to $88.25. The stock’s lowest price that day was $84.32, but it reached a high of $88.89 in the same session. During the last five days, there has been a drop of approximately -0.52%. Over the course of the year, QuidelOrtho Corporation shares have jumped approximately 3.01%. Shares of the company reached a 52-week high of $93.11 on 01/09/23 and a 52-week low of $83.03 on 01/03/23. A 50-day SMA is recorded $86.77, while a 200-day SMA reached $88.93. Nevertheless, trading volume fell to 0.53 million shares from 0.38 million shares the previous day.

Support And Resistance Levels for QuidelOrtho Corporation (QDEL)

According to the 24-hour chart, there is a support level at 85.42, which, if violated, would cause prices to drop to 82.58. In the upper region, resistance lies at 89.99. The next price resistance is at 91.72. RSI (Relative Strength Index) is 51.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.07, which suggests the price will decrease in the coming days. Percent R is at 51.66%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is QuidelOrtho Corporation subject to short interest?

Stocks of QuidelOrtho Corporation saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.64 million shares to 3.37 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.73 million shares. A jump of 18.99% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.07 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.07.

Which companies own the most shares of QuidelOrtho Corporation (QDEL)?

According to T. Rowe Price Investment Manageme filings, the company currently owns 6,506,473 shares, which is about 9.85% of the total QDEL shares outstanding. The investor’s shares have appreciated by 160,782 from its previous 13-F filing of 6345691.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $403,782,048. BlackRock Fund Advisors acquire a 8.76% interest valued at $385.56 million while ArrowMark Colorado Holdings LLC purchased a 352,574 stake. A total of 290,941 shares of QuidelOrtho Corporation were bought by Senvest Management LLC during the quarter, and 20,333 were bought by SSgA Funds Management, Inc. In its current portfolio, Fred Alger Management LLC holds 1,135,860 shares valued at $97.24 million.

In terms of QuidelOrtho Corporation share price expectations, FactSet research, analysts set an average price target of $119.29 in the next 12 months, up nearly 46.27% from the previous closing price of $85.46. Analysts anticipate QuidelOrtho Corporation stock to reach $173.00 by 2023, with the lowest price target being $85.00. In spite of this, 8 analysts ranked QuidelOrtho Corporation stock as an Overweight at the end of 2023. On July 20, 2022, UBS assigned a price target of “a Sell” to the stock and initiated coverage with a $86.


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