Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock is traded on the Nasdaq Global Select Market under the symbol “QDEL.”
As of February 10, 2023 , we had approximately 69 common stockholders of record and we do not anticipate paying any cash dividends in the foreseeable future.
Issuer Purchases of Equity Securities
The table below sets forth information regarding repurchases of our common stock by us during the three months ended January 1, 2023:
Period Total Number of Shares Purchased (1) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2)
October 3, 2022 - October 30, 2022 931 $ 78.45 — $ 225,677,460
October 31, 2022 - November 27, 2022 4,632 88.23 — 225,677,460
November 28, 2022 - January 1, 2023 1,103 89.99 — 225,677,460
Total 6,666 $ 87.16 — $ 225,677,460
(1) Includes shares surrendered, if any, to the Company to satisfy the payment of minimum tax withholding obligations.
(2) On December 18, 2018, Quidel announced a stock repurchase program to repurchase up to $50.0 million of its common stock, which was authorized by Quidel’s board of directors (the “Quidel Board”) on December 12, 2018. On August 28, 2020, the Quidel Board authorized an increase of an additional $150.0 million to Quidel’s existing stock repurchase program authorization, which was announced on September 1, 2020. The Quidel Board also extended the stock repurchase program through August 28, 2022. In connection with the consummation of the Combinations, Quidel’s $150.0 million stock repurchase program was terminated. On August 17, 2022, the Board authorized a stock repurchase program, allowing the Company to repurchase up to $300.0 million of its common stock through August 17, 2024.
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STOCKHOLDER RETURN PERFORMANCE GRAPH
Set forth below is a line graph comparing the yearly percentage change in the cumulative total stockholder return on our common stock with the cumulative total returns of the Nasdaq Composite Index and Nasdaq Health Care Index for the five years ended January 1, 2023. The graph assumes (i) an initial investment of $100 as of the market close on December 29, 2017 in our common stock, the Nasdaq Composite Index and the Nasdaq Health Care Index and (ii) reinvestment of dividends. The graph represents stock price performance of Quidel, from fiscal year 2018 through May 27, 2022, and QuidelOrtho following the closing date of the Combinations. The stock price performance of our common stock depicted in the graph represents past performance only and is not necessarily indicative of future performance.
COMPARISON OF 5 YEAR TOTAL CUMULATIVE RETURN
Among QuidelOrtho Corporation, the Nasdaq Composite and the Nasdaq Health Care Composite Indices
Base Period
Company/Index 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022
QuidelOrtho Corporation $ 100.00 $ 112.62 $ 173.08 $ 414.42 $ 311.40 $ 197.62
Nasdaq Composite Index $ 100.00 $ 97.16 $ 132.81 $ 192.47 $ 235.15 $ 158.65
Nasdaq Health Care Composite Index $ 100.00 $ 96.37 $ 121.99 $ 159.49 $ 154.53 $ 123.77
Item 6. [Reserved]