Carlyle Group Inc. Sells 81,110 Shares of QuidelOrtho Co. (NASDAQ:QDEL) Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 81,110 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $32.21, for a total value of $2,612,553.10. Following the completion of the transaction, the insider now directly owns 11,439,641 shares of the company’s stock, valued at approximately $368,470,836.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more 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 Friday, June 28th, Carlyle Group Inc. sold 49,937 shares of QuidelOrtho stock. The shares were sold at an average price of $33.05, for a total transaction of $1,650,417.85.
• On Wednesday, June 26th, Carlyle Group Inc. sold 81,482 shares of QuidelOrtho stock. The stock was sold at an average price of $33.19, for a total transaction of $2,704,387.58.
• On Monday, June 24th, Carlyle Group Inc. sold 73,713 shares of QuidelOrtho stock. The stock was sold at an average price of $34.34, for a total value of $2,531,304.42.
• On Thursday, June 20th, Carlyle Group Inc. sold 67,207 shares of QuidelOrtho stock. The shares were sold at an average price of $34.89, for a total value of $2,344,852.23.
• 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 Friday, June 14th, Carlyle Group Inc. sold 127,981 shares of QuidelOrtho stock. The stock was sold at an average price of $36.19, for a total transaction 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 Stock Down 1.1 %

Shares of NASDAQ QDEL opened at $31.01 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.55 and a debt-to-equity ratio of 0.68. The firm has a market cap of $2.08 billion, a PE ratio of -1.18 and a beta of 0.07. The company’s fifty day simple moving average is $39.76 and its 200 day simple moving average is $50.76. QuidelOrtho Co. has a 12-month low of $30.61 and a 12-month high of $89.11.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data 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). The company had revenue of $711.00 million for the quarter, compared to the consensus estimate of $697.33 million. QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. As a group, sell-side analysts forecast that QuidelOrtho Co. will post 1.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On QuidelOrtho

A number of hedge funds have recently added to or reduced their stakes in QDEL. GAMMA Investing LLC raised its position in shares of QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after purchasing an additional 378 shares during the period. Headlands Technologies LLC bought a new position in shares of QuidelOrtho in the first quarter valued at $86,000. Cetera Trust Company N.A acquired a new position in shares of QuidelOrtho during the fourth quarter valued at about $108,000. EMC Capital Management bought a new stake in shares of QuidelOrtho during the first quarter worth about $117,000. Finally, CWM LLC raised its holdings in shares of QuidelOrtho by 1,536.0% in the 1st quarter. CWM LLC now owns 2,814 shares of the company’s stock worth $135,000 after acquiring an additional 2,642 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada cut their price target on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two investment 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. Based on data from MarketBeat, QuidelOrtho currently has an average rating of “Hold” and a consensus price target of $59.00.

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.