Carlyle Group Inc. Sells 118,172 Shares of QuidelOrtho Co. (NASDAQ:QDEL) Stock

Posted by Marion Hillson on Aug 10th, 2024

QuidelOrtho Co. (NASDAQ:QDEL – Get Free Report) major shareholder Carlyle Group Inc. sold 118,172 shares of QuidelOrtho stock in a transaction on Monday, August 5th. The shares were sold at an average price of $40.37, for a total value of $4,770,603.64. Following the transaction, the insider now owns 8,606,174 shares in the company, valued at $347,431,244.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

On Wednesday, August 7th, Carlyle Group Inc. sold 78,180 shares of QuidelOrtho stock. The stock was sold at an average price of $39.94, for a total value of $3,122,509.20.
On Friday, August 2nd, Carlyle Group Inc. sold 169,467 shares of QuidelOrtho stock. The stock was sold at an average price of $42.10, for a total value of $7,134,560.70.
On Wednesday, July 31st, Carlyle Group Inc. sold 164,877 shares of QuidelOrtho stock. The stock was sold at an average price of $39.11, for a total value of $6,448,339.47.
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 shares were 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 stock was 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 value of $2,239,500.32.
On Wednesday, July 17th, Carlyle Group Inc. sold 69,637 shares of QuidelOrtho stock. The stock was sold at an average price of $34.81, for a total value 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.

QuidelOrtho Stock Up 0.5 %

Shares of QDEL opened at $41.62 on Friday. The firm’s 50 day moving average is $36.61 and its 200-day moving average is $44.38. The stock has a market capitalization of $2.79 billion, a PE ratio of -1.58 and a beta of 0.07. The company has a current ratio of 1.44, a quick ratio of 0.81 and a debt-to-equity ratio of 0.70. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $84.60.

QuidelOrtho (NASDAQ:QDEL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.15. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $613.51 million. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. QuidelOrtho’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities research analysts forecast that QuidelOrtho Co. will post 1.85 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $57.60.

Get Our Latest Stock Analysis on QDEL

Institutional Investors Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp lifted its stake in QuidelOrtho by 907.3% in the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after purchasing an additional 744 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of QuidelOrtho by 27.0% in the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after acquiring an additional 378 shares during the period. Headlands Technologies LLC bought a new stake in shares of QuidelOrtho in the first quarter worth approximately $86,000. Innealta Capital LLC purchased a new position in QuidelOrtho during the second quarter valued at approximately $102,000. Finally, Cetera Trust Company N.A purchased a new position in shares of QuidelOrtho in the fourth quarter worth $108,000. 99.00% of the stock is owned by institutional investors.

About QuidelOrtho

(Get Free Report)

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.