QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells $2,704,387.58 in Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 81,482 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $33.19, for a total transaction of $2,704,387.58. Following the completion of the sale, the insider now owns 11,617,068 shares in the company, valued at approximately $385,570,486.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 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 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 shares were 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 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 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 Down 0.7 %

Shares of QuidelOrtho stock traded down $0.23 on Thursday, hitting $33.53. 637,666 shares of the company traded hands, compared to its average volume of 981,999. QuidelOrtho Co. has a 52 week low of $32.47 and a 52 week high of $89.11. The stock’s 50 day moving average price is $40.67 and its 200-day moving average price is $52.19. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.55.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QDEL. UBS Group reaffirmed a “sell” rating and set a $42.00 target price (down previously from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Royal Bank of Canada cut their price objective on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.00.

Hedge Funds Weigh In On QuidelOrtho

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of QuidelOrtho by 1,871.8% in the 1st 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 in the last quarter. Headlands Technologies LLC purchased a new stake in QuidelOrtho during the first quarter valued at approximately $86,000. Cetera Trust Company N.A acquired a new stake in QuidelOrtho in the fourth quarter valued at approximately $108,000. EMC Capital Management purchased a new position in QuidelOrtho in the first quarter worth $117,000. Finally, CWM LLC increased its position in shares of QuidelOrtho by 1,536.0% during the first quarter. CWM LLC now owns 2,814 shares of the company’s stock worth $135,000 after purchasing an additional 2,642 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

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.