QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells $6,448,339.47 in Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 164,877 shares of QuidelOrtho stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $39.11, for a total transaction of $6,448,339.47. Following the sale, the insider now owns 9,128,748 shares of the company’s stock, valued at $357,025,334.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 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 Monday, July 29th, Carlyle Group Inc. sold 158,090 shares of QuidelOrtho stock. The stock was sold at an average price of $38.85, for a total value of $6,141,796.50.
• On Friday, July 26th, Carlyle Group Inc. sold 103,926 shares of QuidelOrtho stock. The shares were sold at an average price of $39.05, for a total value of $4,058,310.30.
• On Wednesday, July 24th, Carlyle Group Inc. sold 214,732 shares of QuidelOrtho stock. The stock was 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 shares were 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 transaction of $1,852,134.55.
• On Wednesday, July 10th, Carlyle Group Inc. sold 24,390 shares of QuidelOrtho stock. The stock was sold at an average price of $30.09, for a total transaction of $733,895.10.
• On Monday, July 8th, Carlyle Group Inc. sold 59,973 shares of QuidelOrtho stock. The stock was sold at an average price of $30.39, for a total transaction of $1,822,579.47.

QuidelOrtho Price Performance

QDEL traded up $2.71 on Thursday, reaching $42.00. 2,289,374 shares of the company’s stock were exchanged, compared to its average volume of 1,091,665. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $84.79. The stock has a market cap of $2.81 billion, a PE ratio of -1.55 and a beta of 0.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.55 and a quick ratio of 0.81. The stock’s fifty day moving average price is $36.87 and its 200-day moving average price is $45.48.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Wednesday, July 31st. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.15. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $613.51 million. QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. During the same period in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Sell-side analysts expect that QuidelOrtho Co. will post 1.85 EPS for the current year.

Institutional Trading of QuidelOrtho

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Balanced Rock Investment Advisors LLC grew its holdings in shares of QuidelOrtho by 5.1% in the second quarter. Balanced Rock Investment Advisors LLC now owns 6,784 shares of the company’s stock valued at $225,000 after purchasing an additional 329 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of QuidelOrtho in the 2nd quarter valued at approximately $259,000. Innealta Capital LLC purchased a new stake in shares of QuidelOrtho in the 2nd quarter valued at approximately $102,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of QuidelOrtho by 5.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,908 shares of the company’s stock worth $396,000 after buying an additional 667 shares during the last quarter. Finally, Bfsg LLC raised its position in shares of QuidelOrtho by 26.2% during the 2nd quarter. Bfsg LLC now owns 5,023 shares of the company’s stock valued at $167,000 after buying an additional 1,043 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a report on Thursday. Two 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $57.60.

About QuidelOrtho

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.