Insider Selling: QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells $2,424,063.97 in Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 69,637 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $34.81, for a total value of $2,424,063.97. Following the transaction, the insider now directly owns 10,730,064 shares in the company, valued at approximately $373,513,527.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 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 shares were 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 shares were 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 value of $2,612,553.10.
• On Friday, June 28th, Carlyle Group Inc. sold 49,937 shares of QuidelOrtho stock. The stock was 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 stock was sold at an average price of $33.19, for a total value 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.

QuidelOrtho Trading Down 4.7 %

Shares of QuidelOrtho stock traded down $1.65 during trading hours on Thursday, hitting $33.20. The company’s stock had a trading volume of 1,259,003 shares, compared to its average volume of 986,247. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $89.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.55 and a quick ratio of 0.81. The company has a market capitalization of $2.22 billion, a PE ratio of -1.33 and a beta of 0.07. The stock has a 50 day moving average of $38.01 and a 200 day moving average of $47.97.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, May 8th. The company reported $0.36 earnings per share (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 the consensus estimate of $697.33 million. QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. Analysts predict that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Analyst Ratings Changes

Separately, Royal Bank of Canada decreased their price objective 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 equities 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 company. According to MarketBeat.com, QuidelOrtho currently has a consensus rating of “Hold” and an average price target of $59.00.

Institutional Investors Weigh In On QuidelOrtho

Several large investors have recently made changes to their positions in the stock. Treasurer of the State of North Carolina lifted its position in QuidelOrtho by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,691 shares of the company’s stock valued at $1,746,000 after acquiring an additional 230 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of QuidelOrtho by 2.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the company’s stock valued at $681,000 after purchasing an additional 300 shares during the period. State of Michigan Retirement System lifted its holdings in shares of QuidelOrtho by 2.5% in the first quarter. State of Michigan Retirement System now owns 12,127 shares of the company’s stock valued at $581,000 after purchasing an additional 300 shares in the last quarter. New York Life Investment Management LLC boosted its position in shares of QuidelOrtho by 6.9% during the fourth quarter. New York Life Investment Management LLC now owns 5,509 shares of the company’s stock worth $406,000 after buying an additional 355 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after buying an additional 378 shares during the period. Institutional investors own 99.00% of the company’s stock.

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.