QuidelOrtho drops as Carlyle exits
20/11/2024 12:42
** QuidelOrtho Corp's QDEL.O shares down 6.6% premarket to
$36.05 after Carlyle Group CG.O offloads remaining 12% stake
** San Diego-based medical diagnostics co late Tues announced
pricing ~8.3 mln share secondary offering by the private equity
firm
** QDEL has ~67.3 mln shares outstanding for ~$2.6 bln
market cap
** Goldman Sachs sole underwriter for offering
** Last week, activist investor Jana Partners disclosed it sold
its remaining 1-mln-share stake in QDEL, after first building a
position during the first qtr
** Through Tues close, QDEL shares down ~48% YTD vs Nasdaq's
.IXIC 26% advance
** 8 analysts cover QDEL and recommendation breakdown is 4
"buy", 3 "hold" and 1 "sell" with median PT of $58.50, per LSEG
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.thomsonreuters.com@reuters.net
lance.tupper@tr.com 1-646-279-6380))