Carlyle Group Inc. Sells 73,713 Shares of QuidelOrtho Co. (NASDAQ:QDEL) Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 73,713 shares of QuidelOrtho stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $34.34, for a total value of $2,531,304.42. Following the sale, the insider now directly owns 11,766,022 shares in the company, valued at approximately $404,045,195.48. The sale 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 shares are required to disclose their transactions with the SEC.

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

• On Thursday, June 20th, Carlyle Group Inc. sold 67,207 shares of QuidelOrtho stock. The stock was sold at an average price of $34.89, for a total transaction of $2,344,852.23.
• 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 transaction of $3,586,115.58.
• 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 transaction 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 Price Performance

Shares of QDEL stock opened at $33.76 on Thursday. QuidelOrtho Co. has a 52 week low of $32.47 and a 52 week high of $89.11. The stock has a market capitalization of $2.26 billion, a PE ratio of -1.28 and a beta of 0.13. 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’s fifty day moving average is $40.67 and its 200-day moving average is $52.19.

QuidelOrtho (NASDAQ:QDEL) last posted 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 company had revenue of $711.00 million during the quarter, compared to analyst estimates of $697.33 million. Equities research analysts expect that QuidelOrtho Co. will post 1.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QDEL. Treasurer of the State of North Carolina lifted its stake in shares of QuidelOrtho by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 23,691 shares of the company’s stock valued at $1,746,000 after acquiring an additional 230 shares during the period. Louisiana State Employees Retirement System lifted its position in QuidelOrtho by 2.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the company’s stock valued at $681,000 after purchasing an additional 300 shares during the period. State of Michigan Retirement System boosted its stake in shares of QuidelOrtho by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 12,127 shares of the company’s stock valued at $581,000 after purchasing an additional 300 shares during the last quarter. New York Life Investment Management LLC grew its position in shares of QuidelOrtho by 6.9% during the 4th quarter. New York Life Investment Management LLC now owns 5,509 shares of the company’s stock worth $406,000 after buying an additional 355 shares during the period. Finally, Texas Permanent School Fund Corp raised its stake in shares of QuidelOrtho by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 43,275 shares of the company’s stock worth $2,075,000 after buying an additional 560 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on QDEL. Royal Bank of Canada cut 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 restated a “sell” rating and issued a $42.00 target price (down previously from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently 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.