Carlyle Group Inc. Has $382.72 Million Stake in QuidelOrtho Co. (NASDAQ:QDEL)

Carlyle Group Inc. lowered its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 7.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,520,751 shares of the company's stock after selling 939,432 shares during the quarter. QuidelOrtho comprises 36.3% of Carlyle Group Inc.'s portfolio, making the stock its largest holding. Carlyle Group Inc. owned approximately 17.20% of QuidelOrtho worth $382,719,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in QuidelOrtho by 7,410.5% in the 4th quarter. International Assets Investment Management LLC now owns 7,886 shares of the company's stock valued at $581,000 after buying an additional 7,781 shares during the last quarter. Victory Capital Management Inc. increased its position in QuidelOrtho by 23.5% during the fourth quarter. Victory Capital Management Inc. now owns 21,645 shares of the company's stock worth $1,595,000 after acquiring an additional 4,120 shares during the period. Charles Schwab Investment Management Inc. raised its stake in QuidelOrtho by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 575,473 shares of the company's stock valued at $42,412,000 after purchasing an additional 17,963 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in QuidelOrtho by 144.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company's stock valued at $66,961,000 after purchasing an additional 536,492 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in QuidelOrtho by 190.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,705 shares of the company's stock worth $642,000 after purchasing an additional 5,708 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 24,390 shares of QuidelOrtho stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $30.09, for a total value of $733,895.10. Following the completion of the transaction, the insider now owns 11,141,580 shares in the company, valued at approximately $335,250,142.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,969,673 shares of company stock valued at $71,897,412 in the last three months. 1.00% of the stock is owned by corporate insiders.

QuidelOrtho Price Performance

NASDAQ:QDEL traded up $0.52 during trading hours on Monday, reaching $45.99. The company had a trading volume of 759,182 shares, compared to its average volume of 1,043,020. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $40.14 and a two-hundred day moving average of $41.16. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $76.43. The firm has a market capitalization of $3.09 billion, a PE ratio of -1.74 and a beta of 0.08.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted 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 analyst estimates of $613.51 million. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. Analysts forecast that QuidelOrtho Co. will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on QDEL shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of QuidelOrtho in a research note on Friday, August 16th. Craig Hallum upgraded QuidelOrtho from a "hold" rating to a "buy" rating and raised their price objective for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $57.50.

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.