Insider Selling: QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells 81,110 Shares of Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 81,110 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $32.21, for a total value of $2,612,553.10. Following the completion of the sale, the insider now directly owns 11,439,641 shares of the company’s stock, valued at approximately $368,470,836.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Friday, June 28th, Carlyle Group Inc. sold 49,937 shares of QuidelOrtho stock. The stock was sold at an average price of $33.05, for a total value of $1,650,417.85.
• On Wednesday, June 26th, Carlyle Group Inc. sold 81,482 shares of QuidelOrtho stock. The stock was sold at an average price of $33.19, for a total value of $2,704,387.58.
• On Monday, June 24th, Carlyle Group Inc. sold 73,713 shares of QuidelOrtho stock. The stock was sold at an average price of $34.34, for a total value of $2,531,304.42.
• 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 value 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 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 Trading Down 1.1 %

QDEL traded down $0.35 on Wednesday, hitting $31.01. 1,100,066 shares of the stock traded hands, compared to its average volume of 984,490. QuidelOrtho Co. has a 52 week low of $30.61 and a 52 week high of $89.11. The company has a current ratio of 1.55, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average price of $40.13 and a two-hundred day moving average price of $51.04.

QuidelOrtho (NASDAQ:QDEL) last released 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). The company had revenue of $711.00 million for 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, analysts expect that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On QuidelOrtho

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of QuidelOrtho by 27.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after acquiring an additional 378 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of QuidelOrtho in the 1st quarter worth approximately $86,000. Cetera Trust Company N.A acquired a new position in shares of QuidelOrtho in the 4th quarter worth approximately $108,000. EMC Capital Management acquired a new position in shares of QuidelOrtho in the 1st quarter worth approximately $117,000. Finally, CWM LLC lifted its holdings in QuidelOrtho by 1,536.0% during the 1st quarter. CWM LLC now owns 2,814 shares of the company’s stock worth $135,000 after buying an additional 2,642 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lowered their price target on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, QuidelOrtho currently has a consensus rating of “Hold” and an average 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.