Carlyle Group Inc. Sells 103,926 Shares of QuidelOrtho Co. (NASDAQ:QDEL) Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 103,926 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $39.05, for a total value of $4,058,310.30. Following the transaction, the insider now directly owns 9,602,305 shares in the company, valued at $374,970,010.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more 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 29th, Carlyle Group Inc. sold 158,090 shares of QuidelOrtho stock. The shares were sold at an average price of $38.85, for a total value of $6,141,796.50.
• 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 value 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 value of $4,775,359.71.
• 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 value 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 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.

QuidelOrtho Stock Performance

Shares of NASDAQ:QDEL traded up $0.85 during midday trading on Tuesday, reaching $39.78. 1,431,713 shares of the company’s stock traded hands, compared to its average volume of 1,077,524. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -1.48 and a beta of 0.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.55. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $88.14. The stock has a 50 day moving average of $36.97 and a 200 day moving average of $45.76.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly 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). QuidelOrtho had a negative net margin of 61.65% and a positive return on equity of 3.96%. The business had revenue of $711.00 million for the quarter, compared to the consensus estimate of $697.33 million. As a group, equities research analysts anticipate that QuidelOrtho Co. will post 1.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QDEL. Rubric Capital Management LP lifted its holdings in QuidelOrtho by 230.6% in the fourth quarter. Rubric Capital Management LP now owns 980,063 shares of the company’s stock valued at $72,231,000 after acquiring an additional 683,637 shares during the period. Norges Bank bought a new position in QuidelOrtho in the fourth quarter valued at about $41,968,000. Dimensional Fund Advisors LP lifted its holdings in QuidelOrtho by 144.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock valued at $66,961,000 after acquiring an additional 536,492 shares during the period. Invenomic Capital Management LP bought a new position in QuidelOrtho in the fourth quarter valued at about $37,144,000. Finally, Private Management Group Inc. lifted its holdings in QuidelOrtho by 132.0% in the first quarter. Private Management Group Inc. now owns 457,852 shares of the company’s stock valued at $21,949,000 after acquiring an additional 260,508 shares during the period. Institutional investors own 99.00% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada lowered their price target on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.00.

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.