QuidelOrtho Corporation (NASDAQ: QDEL)’s stock price has plunge by 15.75relation to previous closing price of 38.85. Nevertheless, the company has seen a 15.01% surge in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-07 that QuidelOrtho Corporation (NASDAQ:QDEL ) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Juliet Cunningham – Vice President, Investor Relations Brian Blaser – President and Chief Executive Officer Joe Busky – Chief Financial Officer Conference Call Participants Andrew Brackmann – William Blair Jack Meehan – Nephron Research Bill Bonello – Craig-Hallum Patrick Donnelly – Citi Andrew Cooper – Raymond James Jose Ricardo Moreno – RBC Capital Markets Casey Woodring – JPMorgan Operator Welcome to the QuidelOrtho Third Quarter 2024 Financial Results Conference Call and Webcast. At this time, all participant lines are in a listen-only mode.
Is It Worth Investing in QuidelOrtho Corporation (NASDAQ: QDEL) Right Now?
The 36-month beta value for QDEL is at 0.09. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for QDEL is 58.00M, and currently, shorts hold a 7.30% of that float. The average trading volume for QDEL on November 08, 2024 was 656.00K shares.
QDEL’s Market Performance
The stock of QuidelOrtho Corporation (QDEL) has seen a 15.01% increase in the past week, with a 7.15% rise in the past month, and a 9.07% gain in the past quarter. The volatility ratio for the week is 3.65%, and the volatility levels for the past 30 days are at 3.18% for QDEL. The simple moving average for the last 20 days is 13.41% for QDEL stock, with a simple moving average of 3.64% 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 “Neutral.” The predicted price for QDEL in the upcoming period, according to UBS is $50 based on the research report published on September 19, 2024 of the current year 2024.
Craig Hallum, on the other hand, stated in their research note that they expect to see QDEL reach a price target of $57, previously predicting the price at $40. The rating they have provided for QDEL stocks is “Buy” according to the report published on September 05th, 2024.
UBS gave a rating of “Sell” to QDEL, setting the target price at $42 in the report published on March 04th of the current year.
QDEL Trading at 6.32% 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 -40.72% of loss for the given period.
Volatility was left at 3.18%, however, over the last 30 days, the volatility rate increased by 3.65%, as shares surge +11.43% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4.96% upper at present.
During the last 5 trading sessions, QDEL rose by +16.98%, which changed the moving average for the period of 200-days by -34.65% in comparison to the 20-day moving average, which settled at $39.69. In addition, QuidelOrtho Corporation saw -38.98% 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 74,134 shares at the price of $41.53 back on Aug 09 ’24. After this action, Carlyle Group Inc. now owns 8,260,183 shares of QuidelOrtho Corporation, valued at $3,078,980 using the latest closing price.
Carlyle Group Inc., the 10% Owner of QuidelOrtho Corporation, sale 106,705 shares at $41.07 during a trade that took place back on Aug 08 ’24, which means that Carlyle Group Inc. is holding 8,334,317 shares at $4,382,446 based on the most recent closing price.
Stock Fundamentals for QDEL
Current profitability levels for the company are sitting at:
- 0.01 for the present operating margin
- 0.4 for the gross margin
The net margin for QuidelOrtho Corporation stands at -0.66. The total capital return value is set at 0.01. Equity return is now at value -45.79, with -24.34 for asset returns.
Based on QuidelOrtho Corporation (QDEL), the company’s capital structure generated 0.46 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 0.85. The interest coverage ratio of the stock is 0.18.
Currently, EBITDA for the company is 703.5 million with net debt to EBITDA at 9.86. When we switch over and look at the enterprise to sales, we see a ratio of 1.98. The receivables turnover for the company is 9.55for trailing twelve months and the total asset turnover is 0.41. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.38.
Conclusion
In conclusion, QuidelOrtho Corporation (QDEL) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
