Insider Selling: QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells $7,134,560.70 in Stock

Posted by Don Miller on Aug 8th, 2024

QuidelOrtho Co. (NASDAQ:QDEL – Get Free Report) major shareholder Carlyle Group Inc. sold 169,467 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $42.10, for a total value of $7,134,560.70. Following the sale, the insider now owns 8,724,346 shares of the company’s stock, valued at $367,294,966.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

On Monday, August 5th, Carlyle Group Inc. sold 118,172 shares of QuidelOrtho stock. The stock was sold at an average price of $40.37, for a total transaction of $4,770,603.64.
On Wednesday, July 31st, Carlyle Group Inc. sold 164,877 shares of QuidelOrtho stock. The shares were sold at an average price of $39.11, for a total transaction of $6,448,339.47.
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 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 shares were 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 shares were 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 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 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.

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock opened at $39.59 on Thursday. The business has a 50-day moving average price of $36.75 and a two-hundred day moving average price of $44.44. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $84.60. The company has a current ratio of 1.44, a quick ratio of 0.81 and a debt-to-equity ratio of 0.70. The company has a market cap of $2.65 billion, a P/E ratio of -1.50 and a beta of 0.07.

QuidelOrtho (NASDAQ:QDEL – Get Free Report) last released 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. QuidelOrtho had a positive return on equity of 3.87% and a negative net margin of 65.60%. The business had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $613.51 million. During the same quarter last year, the firm posted $0.26 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. As a group, analysts anticipate that QuidelOrtho Co. will post 1.85 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $57.60.

Read Our Latest Analysis on QuidelOrtho

Institutional Investors Weigh In On QuidelOrtho

A number of hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its holdings in shares of QuidelOrtho by 578.9% in the 2nd quarter. Headlands Technologies LLC now owns 12,172 shares of the company’s stock worth $404,000 after purchasing an additional 10,379 shares in the last quarter. Monaco Asset Management SAM acquired a new position in QuidelOrtho during the second quarter worth $1,038,000. Texas Permanent School Fund Corp raised its holdings in QuidelOrtho by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company’s stock worth $1,446,000 after buying an additional 257 shares during the last quarter. Private Management Group Inc. lifted its stake in shares of QuidelOrtho by 33.4% in the second quarter. Private Management Group Inc. now owns 610,621 shares of the company’s stock valued at $20,285,000 after buying an additional 152,769 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of QuidelOrtho by 17,095.0% during the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock valued at $114,000 after buying an additional 3,419 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

About QuidelOrtho

(Get Free Report)

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.