Insider Selling: QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells 93,187 Shares of Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 93,187 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $31.70, for a total transaction of $2,954,027.90. Following the completion of the transaction, the insider now owns 10,894,562 shares in the company, valued at $345,357,615.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $2,704,387.58.
• On Monday, June 24th, Carlyle Group Inc. sold 73,713 shares of QuidelOrtho stock. The shares were 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.

QuidelOrtho Stock Performance

NASDAQ:QDEL traded up $2.37 during trading hours on Tuesday, reaching $34.15. 1,140,501 shares of the company’s stock were exchanged, compared to its average volume of 985,139. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -1.29 and a beta of 0.07. The company has a 50-day moving average of $38.17 and a 200 day moving average of $48.06. 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 Co. has a 1-year low of $29.74 and a 1-year high of $89.11.

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 analysts’ consensus estimates of $0.42 by ($0.06). The business had revenue of $711.00 million for the quarter, compared to analyst estimates of $697.33 million. QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. Research analysts anticipate that QuidelOrtho Co. will post 1.85 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of QuidelOrtho

A number of large investors have recently bought and sold shares of QDEL. Vanguard Group Inc. lifted its stake in shares of QuidelOrtho by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock worth $233,906,000 after acquiring an additional 37,733 shares during the period. Rubric Capital Management LP lifted its stake in shares of 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 acquiring an additional 683,637 shares during the period. LGT Capital Partners LTD. increased its holdings in shares of 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 purchasing an additional 392,790 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of QuidelOrtho by 144.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock valued at $66,961,000 after purchasing an additional 536,492 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of QuidelOrtho by 5.3% in the 4th quarter. LSV Asset Management now owns 776,674 shares of the company’s stock valued at $57,241,000 after purchasing an additional 39,279 shares in the last quarter. Institutional investors and hedge funds 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.