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 22, 2024, we had approximately 88 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 December 31, 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 2, 2023 - October 29, 2023 3,674 $ 66.64 — $ 225,677,460
October 30, 2023 - November 26, 2023 121,783 60.28 120,000 218,444,460
November 27, 2023 - December 31, 2023 858 70.68 — 218,444,460
Total 126,315 $ 60.54 120,000 $ 218,444,460
(1) Includes shares surrendered, if any, to the Company to satisfy the payment of minimum tax withholding obligations.
(2) 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 (the “Stock Repurchase Program”). During the three months ended December 31, 2023, the Company repurchased 120,000 shares of outstanding common stock under the Stock Repurchase Program for approximately $7.2 million.
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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 Composite Index for the five years ended December 31, 2023. The graph assumes (i) an initial investment of $100 as of the market close on December 31, 2018 in our common stock, the Nasdaq Composite Index and the Nasdaq Health Care Composite Index and (ii) reinvestment of dividends. The graph represents stock price performance of Quidel, from fiscal year 2019 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 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023
QuidelOrtho Corporation $ 100.00 $ 153.69 $ 367.98 $ 276.51 $ 175.48 $ 150.96
Nasdaq Composite Index $ 100.00 $ 135.23 $ 194.24 $ 235.78 $ 157.74 $ 226.24
Nasdaq Health Care Composite Index $ 100.00 $ 125.83 $ 163.63 $ 157.82 $ 125.58 $ 133.80
Item 6. [Reserved]