Gotham Asset Management LLC Takes $856,000 Position in Quidel Corporation (QDEL)

Gotham Asset Management LLC purchased a new stake in Quidel Corporation (NASDAQ:QDEL) in the second quarter, according to its most recent filing with the SEC. The fund purchased 31,536 shares of the company’s stock, valued at approximately $856,000. Gotham Asset Management LLC owned about 0.09% of Quidel Corporation at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc boosted its position in Quidel Corporation by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock worth $197,000 after acquiring an additional 278 shares during the period. AHL Partners LLP lifted its holdings in shares of Quidel Corporation by 4.0% in the second quarter. AHL Partners LLP now owns 18,666 shares of the company’s stock valued at $507,000 after buying an additional 718 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Quidel Corporation by 1.1% in the second quarter. TIAA CREF Investment Management LLC now owns 99,227 shares of the company’s stock valued at $2,693,000 after buying an additional 1,062 shares during the period. Acrospire Investment Management LLC lifted its holdings in shares of Quidel Corporation by 42.2% in the second quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock valued at $100,000 after buying an additional 1,091 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of Quidel Corporation by 7.1% in the first quarter. American International Group Inc. now owns 16,546 shares of the company’s stock valued at $375,000 after buying an additional 1,099 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Shares of Quidel Corporation (QDEL) traded up 2.45% on Friday, reaching $42.61. The company’s stock had a trading volume of 283,394 shares. The stock’s market cap is $1.42 billion. Quidel Corporation has a 1-year low of $18.25 and a 1-year high of $45.55. The company’s 50 day moving average is $41.38 and its 200-day moving average is $31.71.

Quidel Corporation (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.18). Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The company had revenue of $38.30 million for the quarter, compared to analysts’ expectations of $41.91 million. During the same quarter in the previous year, the business earned ($0.11) EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts predict that Quidel Corporation will post $0.29 earnings per share for the current fiscal year.

In related news, CEO Douglas C. Bryant sold 36,000 shares of Quidel Corporation stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $34.44, for a total value of $1,239,840.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at approximately $10,211,218.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas C. Bryant sold 12,000 shares of Quidel Corporation stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $42.17, for a total transaction of $506,040.00. Following the completion of the transaction, the chief executive officer now owns 296,493 shares of the company’s stock, valued at $12,503,109.81. The disclosure for this sale can be found here. Insiders sold a total of 132,000 shares of company stock valued at $5,022,840 over the last quarter. 22.00% of the stock is owned by company insiders.

Several analysts have recently weighed in on the company. Canaccord Genuity restated a “buy” rating and issued a $48.00 price objective on shares of Quidel Corporation in a report on Wednesday. Zacks Investment Research upgraded Quidel Corporation from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, October 13th. Barclays PLC reaffirmed a “buy” rating and set a $45.00 target price (up from $39.00) on shares of Quidel Corporation in a report on Tuesday, September 19th. Raymond James Financial, Inc. reaffirmed a “buy” rating and set a $47.00 target price (up from $41.00) on shares of Quidel Corporation in a report on Tuesday, September 19th. Finally, Piper Jaffray Companies raised Quidel Corporation from a “neutral” rating to an “overweight” rating and upped their target price for the company from $35.00 to $50.00 in a report on Tuesday, September 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $48.00.

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Quidel Corporation Profile

Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. These diagnostic testing solutions are separated into four product categories: immunoassays, molecular assays, virology and specialty products. The Company sells its products directly to end users and distributors, in each case, for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, universities, retail clinics, pharmacies and wellness screening centers.

Institutional Ownership by Quarter for Quidel Corporation (NASDAQ:QDEL)

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