Insider Selling: QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells 67,207 Shares of Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 67,207 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $34.89, for a total value of $2,344,852.23. Following the transaction, the insider now owns 11,908,315 shares in the company, valued at approximately $415,481,110.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares 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 shares were sold at an average price of $35.99, for a total value of $3,586,115.58.
• On Friday, June 14th, Carlyle Group Inc. sold 127,981 shares of QuidelOrtho stock. The shares were sold at an average price of $36.19, for a total value of $4,631,632.39.
• 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 transaction of $2,585,300.49.

QuidelOrtho Trading Up 1.1 %

Shares of QDEL stock opened at $35.21 on Monday. The stock has a 50-day moving average of $41.07 and a 200-day moving average of $52.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.55 and a quick ratio of 0.81. QuidelOrtho Co. has a 1-year low of $34.28 and a 1-year high of $89.11.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.36 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $697.33 million. As a group, analysts expect that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On QuidelOrtho

Several large investors have recently added to or reduced their stakes in QDEL. GAMMA Investing LLC lifted its stake in QuidelOrtho by 1,871.8% in the first quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock valued at $67,000 after buying an additional 1,329 shares during the period. Cetera Trust Company N.A bought a new position in QuidelOrtho during the fourth quarter worth $108,000. Headlands Technologies LLC bought a new position in QuidelOrtho during the first quarter worth $86,000. Bfsg LLC acquired a new stake in QuidelOrtho in the fourth quarter worth $146,000. Finally, EMC Capital Management bought a new stake in QuidelOrtho in the first quarter valued at $117,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Company Profile

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.