Carlyle Group Inc. Sells 49,937 Shares of QuidelOrtho Co. (NASDAQ:QDEL) Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 49,937 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $33.05, for a total transaction of $1,650,417.85. Following the sale, the insider now directly owns 11,520,751 shares of the company’s stock, valued at $380,760,820.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 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 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 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 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 0.9 %

QDEL opened at $31.36 on Wednesday. QuidelOrtho Co. has a twelve month low of $30.87 and a twelve month high of $89.11. The company’s 50-day moving average price is $40.13 and its two-hundred day moving average price is $51.04. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -1.19 and a beta of 0.07. 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 posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.36 EPS 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 firm had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $697.33 million. As a group, equities analysts expect that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in QuidelOrtho by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock valued at $233,906,000 after purchasing an additional 37,733 shares during the last quarter. Rubric Capital Management LP boosted its holdings in QuidelOrtho by 230.6% in the 4th quarter. Rubric Capital Management LP now owns 980,063 shares of the company’s stock worth $72,231,000 after buying an additional 683,637 shares during the period. LGT Capital Partners LTD. grew its stake in QuidelOrtho by 69.9% in the 4th quarter. LGT Capital Partners LTD. now owns 954,466 shares of the company’s stock valued at $70,344,000 after buying an additional 392,790 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in QuidelOrtho by 144.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock valued at $66,961,000 after acquiring an additional 536,492 shares during the period. Finally, LSV Asset Management lifted its position in shares of QuidelOrtho by 5.3% during the fourth quarter. LSV Asset Management now owns 776,674 shares of the company’s stock worth $57,241,000 after acquiring an additional 39,279 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada dropped their target price 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 equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently 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.