Insider Selling: QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells $1,627,589.88 in Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 52,724 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $30.87, for a total transaction of $1,627,589.88. Following the completion of the transaction, the insider now owns 11,300,463 shares of the company’s stock, valued at approximately $348,845,292.81. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major 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, July 8th, Carlyle Group Inc. sold 59,973 shares of QuidelOrtho stock. The shares were sold at an average price of $30.39, for a total transaction of $1,822,579.47.
• On Friday, July 5th, Carlyle Group Inc. sold 50,739 shares of QuidelOrtho stock. The stock was sold at an average price of $31.15, for a total transaction of $1,580,519.85.
• On Monday, July 1st, Carlyle Group Inc. sold 81,110 shares of QuidelOrtho stock. The stock was sold at an average price of $32.21, for a total transaction of $2,612,553.10.
• On Friday, June 28th, Carlyle Group Inc. sold 49,937 shares of QuidelOrtho stock. The stock was 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 transaction 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 transaction 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 transaction 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 0.2 %

Shares of NASDAQ QDEL opened at $29.96 on Thursday. The firm has a market capitalization of $2.01 billion, a PE ratio of -1.14 and a beta of 0.07. 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 Co. has a 1 year low of $29.74 and a 1 year high of $89.11. The firm’s 50-day moving average is $39.01 and its 200-day moving average is $49.43.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of QDEL. Rubric Capital Management LP boosted its stake in shares of QuidelOrtho by 230.6% in the 4th quarter. Rubric Capital Management LP now owns 980,063 shares of the company’s stock valued at $72,231,000 after purchasing an additional 683,637 shares during the last quarter. Norges Bank bought a new position in QuidelOrtho during the 4th quarter worth approximately $41,968,000. Dimensional Fund Advisors LP boosted its stake in QuidelOrtho by 144.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock worth $66,961,000 after acquiring an additional 536,492 shares during the last quarter. Invenomic Capital Management LP bought a new position in QuidelOrtho during the 4th quarter worth approximately $37,144,000. Finally, LGT Capital Partners LTD. boosted its stake in QuidelOrtho by 69.9% during the 4th quarter. LGT Capital Partners LTD. now owns 954,466 shares of the company’s stock worth $70,344,000 after acquiring an additional 392,790 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada decreased their price objective on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a report 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 given a buy rating to the stock. According to data from MarketBeat, QuidelOrtho currently has an average rating of “Hold” and a consensus price target of $59.00.

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.