Carlyle Group Inc. Sells 65,636 Shares of QuidelOrtho Co. (NASDAQ:QDEL) Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 65,636 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $34.12, for a total value of $2,239,500.32. Following the sale, the insider now directly owns 10,562,558 shares of the company’s stock, valued at approximately $360,394,478.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 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, July 17th, Carlyle Group Inc. sold 69,637 shares of QuidelOrtho stock. The stock was sold at an average price of $34.81, for a total value of $2,424,063.97.
• On Monday, July 15th, Carlyle Group Inc. sold 93,187 shares of QuidelOrtho stock. The stock was sold at an average price of $31.70, for a total value of $2,954,027.90.
• On Friday, July 12th, Carlyle Group Inc. sold 57,253 shares of QuidelOrtho stock. The stock was sold at an average price of $32.35, for a total value of $1,852,134.55.
• On Wednesday, July 10th, Carlyle Group Inc. sold 24,390 shares of QuidelOrtho stock. The stock was sold at an average price of $30.09, for a total value of $733,895.10.
• On Monday, July 8th, Carlyle Group Inc. sold 59,973 shares of QuidelOrtho stock. The stock was sold at an average price of $30.39, for a total value 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 value of $1,580,519.85.
• On Wednesday, July 3rd, Carlyle Group Inc. sold 52,724 shares of QuidelOrtho stock. The stock was sold at an average price of $30.87, for a total value of $1,627,589.88.
• On Monday, July 1st, Carlyle Group Inc. sold 81,110 shares of QuidelOrtho stock. The shares were sold at an average price of $32.21, for a total value of $2,612,553.10.
• 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.

QuidelOrtho Stock Up 2.0 %

Shares of NASDAQ:QDEL traded up $0.69 on Monday, hitting $35.38. 1,550,998 shares of the company traded hands, compared to its average volume of 990,551. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week 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 stock has a 50 day simple moving average of $37.64 and a 200-day simple moving average of $47.23. The company has a market cap of $2.37 billion, a PE ratio of -1.31 and a beta of 0.07.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $697.33 million. As a group, research analysts expect that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Hedge Funds Weigh In On QuidelOrtho

Several institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. increased its holdings in QuidelOrtho by 25.0% in the 3rd quarter. Citigroup Inc. now owns 5,808 shares of the company’s stock worth $424,000 after buying an additional 1,161 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in QuidelOrtho by 11.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 25,559 shares of the company’s stock worth $1,884,000 after buying an additional 2,727 shares in the last quarter. Pacer Advisors Inc. increased its holdings in QuidelOrtho by 77.7% in the 4th quarter. Pacer Advisors Inc. now owns 7,431 shares of the company’s stock worth $548,000 after buying an additional 3,249 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in QuidelOrtho by 21.9% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 252,251 shares of the company’s stock worth $18,591,000 after buying an additional 45,332 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC increased its holdings in QuidelOrtho by 125.7% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 11,118 shares of the company’s stock worth $819,000 after buying an additional 6,193 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lowered their price objective on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, QuidelOrtho has a consensus rating of “Hold” and a consensus price target of $59.00.

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.