QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells $2,531,304.42 in Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 73,713 shares of QuidelOrtho stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $34.34, for a total value of $2,531,304.42. Following the transaction, the insider now directly owns 11,766,022 shares of the company’s stock, valued at approximately $404,045,195.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% 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 Wednesday, June 26th, Carlyle Group Inc. sold 81,482 shares of QuidelOrtho stock. The shares were sold at an average price of $33.19, for a total transaction of $2,704,387.58.
• 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 shares were 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 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 Stock Performance

NASDAQ:QDEL opened at $33.53 on Friday. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -1.27 and a beta of 0.13. The business has a 50 day moving average of $40.58 and a 200 day moving average of $52.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.55 and a quick ratio of 0.81. QuidelOrtho Co. has a 1-year low of $32.47 and a 1-year high of $89.11.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $697.33 million. On average, sell-side analysts predict that QuidelOrtho Co. will post 1.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on QDEL shares. Royal Bank of Canada dropped their price target 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 price target (down previously 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 issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, QuidelOrtho currently has a consensus rating of “Hold” and a consensus price target of $59.00.

Institutional Trading of QuidelOrtho

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in QuidelOrtho by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock valued at $233,906,000 after buying an additional 37,733 shares during the last quarter. Senvest Management LLC raised its stake in shares of QuidelOrtho by 7.6% during the third quarter. Senvest Management LLC now owns 3,330,278 shares of the company’s stock valued at $243,244,000 after acquiring an additional 235,000 shares during the last quarter. Rubric Capital Management LP boosted its holdings in shares of QuidelOrtho by 230.6% during the fourth quarter. Rubric Capital Management LP now owns 980,063 shares of the company’s stock worth $72,231,000 after purchasing an additional 683,637 shares during the period. LGT Capital Partners LTD. grew its stake in shares of QuidelOrtho by 69.9% in the fourth quarter. LGT Capital Partners LTD. now owns 954,466 shares of the company’s stock worth $70,344,000 after purchasing an additional 392,790 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in QuidelOrtho by 144.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock valued at $66,961,000 after purchasing an additional 536,492 shares during the period. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

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.