QuidelOrtho Corporation (NASDAQ: QDEL) has seen a rise in its stock price by 2.61 in relation to its previous close of 32.90. However, the company has experienced a -5.20% decline in its stock price over the last five trading sessions. globenewswire.com reported 2024-06-24 that NEW YORK, June 24, 2024 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against QuidelOrtho Corporation (NASDAQ: QDEL) on behalf of long-term stockholders following a class action complaint that was filed against QuidelOrtho on April 12, 2024 with a Class Period from February 18, 2022 to April 1, 2024. Our investigation concerns whether the board of directors of QuidelOrtho have breached their fiduciary duties to the company.
Is It Worth Investing in QuidelOrtho Corporation (NASDAQ: QDEL) Right Now?
The 36-month beta value for QDEL is also noteworthy at 0.06. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
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The public float for QDEL is 52.49M, and at present, short sellers hold a 5.55% of that float. The average trading volume of QDEL on June 27, 2024 was 938.84K shares.
QDEL’s Market Performance
QDEL stock saw a decrease of -5.20% in the past week, with a monthly decline of -20.38% and a quarterly a decrease of -28.17%. The volatility ratio for the week is 3.50%, and the volatility levels for the last 30 days are 3.64% for QuidelOrtho Corporation (QDEL). The simple moving average for the last 20 days is -15.16% for QDEL stock, with a simple moving average of -41.14% for the last 200 days.
Analysts’ Opinion of QDEL
Many brokerage firms have already submitted their reports for QDEL stocks, with UBS repeating the rating for QDEL by listing it as a “Sell.” The predicted price for QDEL in the upcoming period, according to UBS is $42 based on the research report published on March 04, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see QDEL reach a price target of $37, previously predicting the price at $66. The rating they have provided for QDEL stocks is “Underweight” according to the report published on February 14th, 2024.
Citigroup gave a rating of “Neutral” to QDEL, setting the target price at $72 in the report published on December 11th of the previous year.
QDEL Trading at -17.35% from the 50-Day Moving Average
After a stumble in the market that brought QDEL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -62.11% of loss for the given period.
Volatility was left at 3.64%, however, over the last 30 days, the volatility rate increased by 3.50%, as shares sank -23.36% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -18.55% lower at present.
During the last 5 trading sessions, QDEL fell by -5.20%, which changed the moving average for the period of 200-days by -54.77% in comparison to the 20-day moving average, which settled at $39.28. In addition, QuidelOrtho Corporation saw -54.19% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at QDEL starting from Carlyle Group Inc., who sale 73,713 shares at the price of $34.34 back on Jun 24 ’24. After this action, Carlyle Group Inc. now owns 11,766,022 shares of QuidelOrtho Corporation, valued at $2,531,371 using the latest closing price.
Carlyle Group Inc., the 10% Owner of QuidelOrtho Corporation, sale 68,580 shares at $35.07 during a trade that took place back on Jun 21 ’24, which means that Carlyle Group Inc. is holding 11,839,735 shares at $2,404,799 based on the most recent closing price.
Stock Fundamentals for QDEL
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.44 for the gross margin
The net margin for QuidelOrtho Corporation stands at -0.62. The total capital return value is set at 0.01. Equity return is now at value -42.51, with -22.79 for asset returns.
Based on QuidelOrtho Corporation (QDEL), the company’s capital structure generated 0.42 points at debt to capital in total, while cash flow to debt ratio is standing at 0.04. The debt to equity ratio resting at 0.73. The interest coverage ratio of the stock is 0.29.
Currently, EBITDA for the company is 703.5 million with net debt to EBITDA at 8.21. When we switch over and look at the enterprise to sales, we see a ratio of 1.68. The receivables turnover for the company is 6.01for trailing twelve months and the total asset turnover is 0.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.55.
Conclusion
In summary, QuidelOrtho Corporation (QDEL) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
