QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Carlyle Group Inc. Sells 67,207 Shares of Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 67,207 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $34.89, for a total value of $2,344,852.23. Following the completion of the transaction, the insider now owns 11,908,315 shares in the company, valued at approximately $415,481,110.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major 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, June 17th, Carlyle Group Inc. sold 99,642 shares of QuidelOrtho stock. The stock was sold at an average price of $35.99, for a total value of $3,586,115.58.
• On Friday, June 14th, Carlyle Group Inc. sold 127,981 shares of QuidelOrtho stock. The stock was 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 stock was sold at an average price of $40.23, for a total value of $2,585,300.49.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $33.91 on Tuesday. The stock has a market cap of $2.27 billion, a PE ratio of -1.28 and a beta of 0.13. QuidelOrtho Co. has a fifty-two week low of $33.86 and a fifty-two week high of $89.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.55. The stock has a fifty day moving average of $40.92 and a 200-day moving average of $52.55.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, May 8th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. The business had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $697.33 million. Equities research analysts anticipate that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Hedge Funds Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QDEL. Citigroup Inc. grew its position in QuidelOrtho by 25.0% during the third quarter. Citigroup Inc. now owns 5,808 shares of the company’s stock worth $424,000 after buying an additional 1,161 shares in the last quarter. QRG Capital Management Inc. purchased a new position in QuidelOrtho during the third quarter worth about $410,000. Mariner LLC lifted its stake in QuidelOrtho by 10.3% during the third quarter. Mariner LLC now owns 8,505 shares of the company’s stock worth $621,000 after purchasing an additional 797 shares during the last quarter. Stonepine Capital Management LLC lifted its stake in QuidelOrtho by 6.4% during the third quarter. Stonepine Capital Management LLC now owns 658,794 shares of the company’s stock worth $48,118,000 after purchasing an additional 39,368 shares during the last quarter. Finally, Senvest Management LLC lifted its stake in QuidelOrtho by 7.6% during the third quarter. Senvest Management LLC now owns 3,330,278 shares of the company’s stock worth $243,244,000 after purchasing an additional 235,000 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on QDEL. Royal Bank of Canada decreased their target price on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. UBS Group reissued a “sell” rating and issued a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Two investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.