Carlyle Group Inc. Sells 3,260,568 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Carlyle Group Inc. cut its position in QuidelOrtho Co. (NASDAQ:QDEL) by 28.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,260,183 shares of the company’s stock after selling 3,260,568 shares during the period. QuidelOrtho makes up 39.5% of Carlyle Group Inc.’s holdings, making the stock its largest position. Carlyle Group Inc. owned approximately 12.28% of QuidelOrtho worth $376,664,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Texas Permanent School Fund Corp boosted its stake in shares of QuidelOrtho by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company’s stock worth $1,446,000 after acquiring an additional 257 shares in the last quarter. Balanced Rock Investment Advisors LLC lifted its stake in QuidelOrtho by 5.1% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 6,784 shares of the company’s stock valued at $225,000 after buying an additional 329 shares in the last quarter. GAMMA Investing LLC increased its stake in QuidelOrtho by 27.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after buying an additional 378 shares in the last quarter. Algert Global LLC raised its holdings in shares of QuidelOrtho by 1.0% during the second quarter. Algert Global LLC now owns 46,846 shares of the company’s stock valued at $1,556,000 after acquiring an additional 450 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its position in shares of QuidelOrtho by 2.9% in the third quarter. Hunter Perkins Capital Management LLC now owns 18,588 shares of the company’s stock valued at $848,000 after acquiring an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Trading Down 4.6 %

Shares of QuidelOrtho stock opened at $36.80 on Wednesday. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $75.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -1.38 and a beta of 0.12. The stock has a 50 day moving average of $41.77 and a 200 day moving average of $40.39.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The firm had revenue of $727.00 million during the quarter, compared to the consensus estimate of $642.16 million. During the same period last year, the company earned $0.90 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, research analysts predict that QuidelOrtho Co. will post 1.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and upped their target price for the stock from $40.00 to $57.00 in a report on Thursday, September 5th. UBS Group initiated coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, QuidelOrtho has an average rating of “Hold” and a consensus price target of $58.83.

QuidelOrtho 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.