QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Carlyle Group Inc. Sells 99,642 Shares

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 99,642 shares of QuidelOrtho stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $35.99, for a total value of $3,586,115.58. Following the sale, the insider now directly owns 12,024,063 shares of the company’s stock, valued at $432,746,027.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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, June 14th, Carlyle Group Inc. sold 127,981 shares of QuidelOrtho stock. The shares were sold at an average price of $36.19, for a total value of $4,631,632.39.
• On Wednesday, June 12th, Carlyle Group Inc. sold 64,263 shares of QuidelOrtho stock. The shares were sold at an average price of $40.23, for a total value of $2,585,300.49.

QuidelOrtho Trading Down 1.9 %

Shares of NASDAQ QDEL opened at $35.61 on Wednesday. QuidelOrtho Co. has a twelve month low of $35.40 and a twelve month high of $89.11. The stock has a 50 day moving average of $41.54 and a two-hundred day moving average of $53.46. The company has a current ratio of 1.55, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Wednesday, May 8th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $697.33 million. QuidelOrtho had a negative net margin of 61.65% and a positive return on equity of 3.96%. On average, research analysts expect 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. EMC Capital Management purchased a new position in shares of QuidelOrtho in the 1st quarter valued at approximately $117,000. Tidal Investments LLC acquired a new stake in shares of QuidelOrtho during the first quarter worth $582,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of QuidelOrtho by 15.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 216,349 shares of the company’s stock worth $10,372,000 after purchasing an additional 29,721 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of QuidelOrtho by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,854 shares of the company’s stock valued at $1,911,000 after acquiring an additional 1,648 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in QuidelOrtho by 7.1% during the first quarter. Gabelli Funds LLC now owns 144,130 shares of the company’s stock worth $6,910,000 after purchasing an additional 9,500 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on QDEL shares. Royal Bank of Canada cut their price objective on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. UBS Group reiterated a “sell” rating and set a $42.00 price target (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. 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 company’s stock. Based on data from MarketBeat.com, QuidelOrtho has a consensus rating of “Hold” and an average price target 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.