QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Carlyle Group Inc. Sells 164,877 Shares

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 164,877 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.11, for a total transaction of $6,448,339.47. Following the completion of the sale, the insider now owns 9,128,748 shares in the company, valued at $357,025,334.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 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, July 29th, Carlyle Group Inc. sold 158,090 shares of QuidelOrtho stock. The stock was sold at an average price of $38.85, for a total transaction of $6,141,796.50.
• On Friday, July 26th, Carlyle Group Inc. sold 103,926 shares of QuidelOrtho stock. The stock was sold at an average price of $39.05, for a total transaction of $4,058,310.30.
• On Wednesday, July 24th, Carlyle Group Inc. sold 214,732 shares of QuidelOrtho stock. The stock was sold at an average price of $38.97, for a total transaction of $8,368,106.04.
• On Monday, July 22nd, Carlyle Group Inc. sold 135,241 shares of QuidelOrtho stock. The stock was sold at an average price of $35.31, for a total transaction of $4,775,359.71.
• On Friday, July 19th, Carlyle Group Inc. sold 65,636 shares of QuidelOrtho stock. The shares were sold at an average price of $34.12, for a total transaction of $2,239,500.32.
• On Wednesday, July 17th, Carlyle Group Inc. sold 69,637 shares of QuidelOrtho stock. The shares were sold at an average price of $34.81, for a total transaction of $2,424,063.97.
• On Monday, July 15th, Carlyle Group Inc. sold 93,187 shares of QuidelOrtho stock. The shares were sold at an average price of $31.70, for a total transaction of $2,954,027.90.
• On Friday, July 12th, Carlyle Group Inc. sold 57,253 shares of QuidelOrtho stock. The shares were sold at an average price of $32.35, for a total transaction of $1,852,134.55.
• On Wednesday, July 10th, Carlyle Group Inc. sold 24,390 shares of QuidelOrtho stock. The shares were sold at an average price of $30.09, for a total transaction of $733,895.10.
• 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.

QuidelOrtho Stock Performance

Shares of QDEL opened at $42.01 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.81 and a current ratio of 1.44. The company has a market capitalization of $2.81 billion, a PE ratio of -1.59 and a beta of 0.07. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $84.79. The company’s 50 day moving average price is $36.87 and its 200 day moving average price is $45.05.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.15. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $613.51 million. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. Research analysts expect that QuidelOrtho Co. will post 1.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of QuidelOrtho in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $57.60.

Institutional Trading of QuidelOrtho

Several large investors have recently added to or reduced their stakes in QDEL. Raymond James Financial Services Advisors Inc. grew its position in QuidelOrtho by 11.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,559 shares of the company’s stock worth $1,884,000 after acquiring an additional 2,727 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of QuidelOrtho by 77.7% during 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 during the period. International Assets Investment Management LLC boosted its holdings in shares of QuidelOrtho by 7,410.5% during the 4th quarter. International Assets Investment Management LLC now owns 7,886 shares of the company’s stock worth $581,000 after buying an additional 7,781 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of QuidelOrtho by 4.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 148,923 shares of the company’s stock worth $10,976,000 after buying an additional 6,401 shares during the period. Finally, Perigon Wealth Management LLC bought a new stake in shares of QuidelOrtho during the 4th quarter worth $232,000. 99.00% of the stock is owned by institutional investors.

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.