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

Posted by Dee Baugher on Aug 7th, 2024

QuidelOrtho Co. (NASDAQ:QDEL – Get Free Report) major shareholder Carlyle Group Inc. sold 118,172 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $40.37, for a total transaction of $4,770,603.64. Following the completion of the sale, the insider now owns 8,606,174 shares in the company, valued at approximately $347,431,244.38. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 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 transaction 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 transaction 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 transaction of $6,141,796.50.
On Friday, July 26th, Carlyle Group Inc. sold 103,926 shares of QuidelOrtho stock. The stock was 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 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 shares were 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 value of $1,852,134.55.

QuidelOrtho Stock Down 1.2 %

NASDAQ:QDEL traded down $0.48 during trading hours on Wednesday, reaching $39.59. 1,124,141 shares of the stock were exchanged, compared to its average volume of 1,095,643. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $84.60. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.81. The firm has a 50 day moving average of $36.75 and a 200 day moving average of $44.44. The stock has a market cap of $2.65 billion, a PE ratio of -1.50 and a beta of 0.07.

QuidelOrtho (NASDAQ:QDEL – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.15. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $613.51 million. QuidelOrtho had a positive return on equity of 3.87% and a negative net margin of 65.60%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, equities analysts expect that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On QuidelOrtho

Hedge funds have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new position in QuidelOrtho during the 1st quarter worth $1,178,000. Dimensional Fund Advisors LP increased its position in QuidelOrtho by 144.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock worth $66,961,000 after buying an additional 536,492 shares during the period. Private Management Group Inc. increased its position in shares of QuidelOrtho by 117.7% in the fourth quarter. Private Management Group Inc. now owns 197,344 shares of the company’s stock worth $14,544,000 after purchasing an additional 106,709 shares during the period. Norges Bank bought a new position in shares of QuidelOrtho in the fourth quarter worth $41,968,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of QuidelOrtho by 11.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,559 shares of the company’s stock worth $1,884,000 after purchasing an additional 2,727 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

Analysts Set New Price Targets

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

Check Out Our Latest Analysis on QuidelOrtho

QuidelOrtho Company Profile

(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.