QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Carlyle Group Inc. Sells 127,981 Shares

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 127,981 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $36.19, for a total transaction of $4,631,632.39. Following the completion of the transaction, the insider now directly owns 12,123,705 shares of the company’s stock, valued at approximately $438,756,883.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Carlyle Group Inc. also recently made the following trade(s):

• On Monday, June 17th, Carlyle Group Inc. sold 99,642 shares of QuidelOrtho stock. The stock was sold at an average price of $35.99, for a total value of $3,586,115.58.
• On Wednesday, June 12th, Carlyle Group Inc. sold 64,263 shares of QuidelOrtho stock. The stock was sold at an average price of $40.23, for a total value of $2,585,300.49.

QuidelOrtho Price Performance

QDEL stock opened at $35.61 on Wednesday. The business has a 50-day moving average of $41.54 and a 200-day moving average of $53.46. QuidelOrtho Co. has a fifty-two week low of $35.40 and a fifty-two week high of $89.11. The company has a quick ratio of 0.81, a current ratio of 1.55 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $697.33 million. On average, equities analysts anticipate that QuidelOrtho Co. will post 1.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QDEL. Royal Bank of Canada decreased their price objective on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. UBS Group reaffirmed a “sell” rating and issued a $42.00 price target (down previously from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.00.

Institutional Investors Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in QuidelOrtho by 1,871.8% during the 1st quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock worth $67,000 after buying an additional 1,329 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of QuidelOrtho in the first quarter valued at about $86,000. Cetera Trust Company N.A bought a new stake in QuidelOrtho during the fourth quarter worth about $108,000. EMC Capital Management acquired a new position in QuidelOrtho during the first quarter valued at approximately $117,000. Finally, C M Bidwell & Associates Ltd. bought a new position in QuidelOrtho in the third quarter valued at approximately $123,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

About QuidelOrtho

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.