Carlyle Group Inc. Sells 73,713 Shares of QuidelOrtho Co. (NASDAQ:QDEL) Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 73,713 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $34.34, for a total value of $2,531,304.42. Following the sale, the insider now directly owns 11,766,022 shares in the company, valued at approximately $404,045,195.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% 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 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 transaction of $2,704,387.58.
• 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 transaction of $4,631,632.39.
• On Wednesday, June 12th, Carlyle Group Inc. sold 64,263 shares of QuidelOrtho stock. The shares were sold at an average price of $40.23, for a total transaction of $2,585,300.49.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock opened at $33.53 on Friday. The firm has a market cap of $2.25 billion, a PE ratio of -1.27 and a beta of 0.13. QuidelOrtho Co. has a twelve month low of $32.47 and a twelve month high of $89.11. 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 business has a 50-day moving average price of $40.58 and a 200 day moving average price of $52.06.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $697.33 million. Sell-side analysts predict that QuidelOrtho Co. will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of QuidelOrtho by 1,871.8% during the first quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,329 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of QuidelOrtho during the first quarter valued at approximately $86,000. Cetera Trust Company N.A purchased a new stake in shares of QuidelOrtho during the fourth quarter worth approximately $108,000. EMC Capital Management acquired a new stake in QuidelOrtho during the 1st quarter worth $117,000. Finally, CWM LLC lifted its stake in shares of QuidelOrtho by 1,536.0% in the first quarter. CWM LLC now owns 2,814 shares of the company’s stock worth $135,000 after buying an additional 2,642 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on QDEL shares. UBS Group reissued a “sell” rating and issued a $42.00 price objective (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Royal Bank of Canada decreased their price target on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Two 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. Based on data from MarketBeat.com, QuidelOrtho presently has a consensus rating of “Hold” and an average target price 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.