QuidelOrtho Surges to 424th in Trading Volume with $245 Million in Shares Exchanged

On May 8, 2025, QuidelOrtho (QDEL) experienced a significant surge in trading volume, with a total of $245 million in shares exchanged, marking an 117.62% increase from the previous day. This surge placed QuidelOrtho at the 424th position in terms of trading volume for the day. The stock price of QuidelOrtho rose by 41.04%.

Jefferies analyst Tycho Peterson upgraded QuidelOrtho from Hold to Buy, setting a price target of $44.00. This upgrade was driven by the company's better-than-expected Q1 financial results, which were released after the market closed on May 7, 2025. The positive earnings report, coupled with the analyst's optimistic outlook, contributed to the stock's upward momentum.

QuidelOrtho's secondary offering of 8.26 million shares, priced at $38.58, was seen as a positive move by analysts. This offering was expected to remove an investor overhang, as noted by William Blair's analysis. The successful completion of the offering further bolstered investor confidence in the company's financial health and future prospects.