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 firm’s stock in a transaction dated 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 transaction, the insider now owns 11,439,641 shares of the company’s stock, valued at $368,470,836.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 10% 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 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 value of $1,650,417.85.
• On Wednesday, June 26th, Carlyle Group Inc. sold 81,482 shares of QuidelOrtho stock. The shares were sold at an average price of $33.19, for a total value of $2,704,387.58.
• On Monday, June 24th, Carlyle Group Inc. sold 73,713 shares of QuidelOrtho stock. The shares were 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 stock was 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 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 value of $2,585,300.49.

QuidelOrtho Trading Down 1.1 %

Shares of QDEL stock traded down $0.35 during midday trading on Wednesday, hitting $31.01. The company had a trading volume of 1,100,066 shares, compared to its average volume of 984,490. The company’s 50 day simple moving average is $40.13 and its 200 day simple moving average is $51.04. QuidelOrtho Co. has a 52-week low of $30.61 and a 52-week high of $89.11. The company has a current ratio of 1.55, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68.

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

Analysts Set New Price Targets

Separately, Royal Bank of Canada dropped their price target on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $59.00.

Institutional Trading of QuidelOrtho

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in shares of QuidelOrtho by 27.0% in the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after buying an additional 378 shares in the last quarter. EMC Capital Management acquired a new position in QuidelOrtho during the first quarter worth $117,000. Tidal Investments LLC acquired a new position in QuidelOrtho during the first quarter worth $582,000. Silvercrest Asset Management Group LLC raised its holdings in QuidelOrtho by 15.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 216,349 shares of the company’s stock worth $10,372,000 after purchasing an additional 29,721 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in QuidelOrtho by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,854 shares of the company’s stock worth $1,911,000 after purchasing an additional 1,648 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

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.