Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. QuidelOrtho Corporation shares valued at $2,711,095 were sold by Carlyle Group Inc. on Jul 02 ’24. At $31.36 per share, Carlyle Group Inc. sold 86,454 shares. The insider’s holdings dropped to 11,353,187 shares worth approximately $355.35 million following the completion of this transaction.
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Also, Carlyle Group Inc. sold 81,110 shares, netting a total of over 2,612,556 in proceeds. Following the sale of shares at $32.21 each, the insider now holds 11,439,641 shares.
Before that, Carlyle Group Inc. had sold 49,937 shares from its account. In a trade valued at $1,650,252, the 10% Owner traded QuidelOrtho Corporation shares for $33.05 each. Upon closing the transaction, the insider’s holdings decreased to 49,937 shares, worth approximately $360.6 million.
As published in a research note from UBS on March 04, 2024, QuidelOrtho Corporation [QDEL] has been rated down from a Neutral to a Sell and the price target has been revised to $42 from $70. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in mid February. As of December 11, 2023, Citigroup has decreased its “Buy” rating to a “Neutral” for QDEL. Earlier on December 12, 2022, Citigroup upgraded its rating. Their new recommendation was “a Buy” for QDEL stock which previously was a “a Neutral”.
Analyzing QDEL Stock Performance
During the last five days, there has been a drop of approximately -7.29%. Over the course of the year, QuidelOrtho Corporation shares have dropped approximately -57.53%. Shares of the company reached a 52-week high of $75.82 on 01/02/24 and a 52-week low of $30.61 on 07/03/24. A 50-day SMA is recorded $40.00, while a 200-day SMA reached $56.07. Nevertheless, trading volume fell to 1.1 million shares from 1.16 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 30.62, which, if violated, would cause prices to drop to 30.22. In the upper region, resistance lies at 31.40. The next price resistance is at 31.79. RSI (Relative Strength Index) is 22.00 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.74, which suggests the price will decrease in the coming days. Percent R is at 95.77%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
