QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells $4,775,359.71 in Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 135,241 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.31, for a total transaction of $4,775,359.71. Following the transaction, the insider now owns 10,427,317 shares of the company’s stock, valued at $368,188,563.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large 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 Friday, July 19th, Carlyle Group Inc. sold 65,636 shares of QuidelOrtho stock. The stock was 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 stock was 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 stock was 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 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 stock was sold at an average price of $33.05, for a total value of $1,650,417.85.

QuidelOrtho Stock Up 4.0 %

Shares of QuidelOrtho stock traded up $1.46 on Wednesday, hitting $38.40. 2,421,589 shares of the company’s stock traded hands, compared to its average volume of 1,001,647. 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 market cap of $2.57 billion, a P/E ratio of -1.46 and a beta of 0.07. The firm’s 50-day moving average is $37.36 and its 200 day moving average is $46.71.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data 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 firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $697.33 million. Equities analysts anticipate 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 research note on Thursday, May 9th. Two equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $59.00.

Institutional Investors Weigh In On QuidelOrtho

Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in QuidelOrtho by 907.3% during the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after purchasing an additional 744 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of QuidelOrtho by 1,871.8% in the 1st quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock worth $67,000 after buying an additional 1,329 shares during the last quarter. Cetera Trust Company N.A acquired a new position in shares of QuidelOrtho in the 4th quarter valued at about $108,000. Headlands Technologies LLC acquired a new position in shares of QuidelOrtho in the 1st quarter valued at about $86,000. Finally, Bfsg LLC bought a new stake in shares of QuidelOrtho during the 4th quarter valued at about $146,000. 99.00% of the stock is currently 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.