Form 4: Carlyle Group Sells Shares in QuidelOrtho Corp Under 10b5-1 Trading Plan

Carlyle Group Inc. reports the sale of QuidelOrtho Corp shares across multiple transactions on July 1st and 2nd, 2024, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Carlyle Group Inc. has reported the sale of shares in QuidelOrtho Corp on July 1st and 2nd, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on May 12, 2024.
• A total of 40,225 shares were sold on July 1st at a weighted average price of $31.8132, with prices ranging from $31.61 to $31.9999.
• An additional 32,067 shares were sold on July 1st at a weighted average price of $32.2951, with prices ranging from $32.00 to $32.92.
• Further sales on July 1st included 6,740 shares at a weighted average price of $33.5932 (ranging from $33.0102 to $33.9938) and 2,078 shares at a weighted average price of $34.0929 (ranging from $34.00 to $34.18).
• On July 2nd, 397 shares were sold at a weighted average price of $30.9728 (ranging from $30.8799 to $30.9979) and 86,057 shares were sold at a weighted average price of $31.3606 (ranging from $31.0016 to $31.68).
• Following these transactions, Carlyle Partners VI Cayman Holdings, L.P. beneficially owns 11,353,187 shares.

Sentiment

Score: 5

Explanation: Neutral sentiment as the document simply reports transactions under a pre-existing trading plan. There's no indication of positive or negative outlook.

Future Outlook

The document does not contain any specific forward-looking statements or guidance regarding future transactions.

Industry Context

Private equity firms like Carlyle often distribute shares in portfolio companies over time. This sale could be part of a planned exit strategy, but without further context, it's difficult to determine the exact implications for QuidelOrtho.

Comparison to Industry Standards

• Comparing Carlyle's selling activity to other major shareholders in the diagnostics industry is difficult without knowing the specific investment strategies and fund timelines.
• Other private equity firms like Blackstone or KKR may have similar distribution patterns in their healthcare holdings, but these are typically assessed on a case-by-case basis.
• It's common for large shareholders to utilize 10b5-1 plans to manage sales in a compliant manner, which is a standard practice across the industry.

Stakeholder Impact

• The sale of shares by a major shareholder like Carlyle Group could potentially create short-term price volatility for QuidelOrtho Corp.
• However, the existence of a pre-arranged trading plan may mitigate concerns about the reasons behind the sale.

Key Dates