Chicago Equity Partners LLC cut its holdings in Quidel Co. (NASDAQ:QDEL) by 94.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the company’s stock after selling 176,500 shares during the period. Chicago Equity Partners LLC’s holdings in Quidel were worth $439,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Acrospire Investment Management LLC lifted its stake in Quidel by 42.2% in the second quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock worth $100,000 after purchasing an additional 1,091 shares during the last quarter. Legal & General Group Plc lifted its stake in Quidel by 4.6% in the first quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock worth $157,000 after purchasing an additional 306 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Quidel in the second quarter worth $209,000. First Quadrant L P CA bought a new stake in Quidel in the second quarter worth $217,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Quidel in the second quarter worth $364,000. 84.42% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on QDEL shares. Zacks Investment Research upgraded shares of Quidel from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. TheStreet cut shares of Quidel from a “b-” rating to a “c” rating in a research report on Wednesday, July 26th. Raymond James Financial, Inc. restated a “buy” rating and issued a $47.00 price objective (up previously from $41.00) on shares of Quidel in a research report on Tuesday, September 19th. Barclays PLC restated a “buy” rating and issued a $45.00 price objective (up previously from $39.00) on shares of Quidel in a research report on Tuesday, September 19th. Finally, Canaccord Genuity restated a “buy” rating and issued a $48.00 price objective on shares of Quidel in a research report on Wednesday, October 25th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Quidel has an average rating of “Buy” and a consensus price target of $48.80.
In related news, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $34.44, for a total transaction of $1,239,840.00. Following the transaction, the chief executive officer now owns 296,493 shares in the company, valued at $10,211,218.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas C. Bryant sold 12,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $42.17, for a total transaction of $506,040.00. Following the transaction, the chief executive officer now owns 296,493 shares in the company, valued at approximately $12,503,109.81. The disclosure for this sale can be found here. Insiders have sold 135,530 shares of company stock worth $5,414,976 in the last quarter. 22.00% of the stock is owned by corporate insiders.
Quidel Co. (QDEL) opened at $37.94 on Friday. Quidel Co. has a 52-week low of $18.25 and a 52-week high of $45.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.68 and a current ratio of 6.28.
Quidel (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.21). Quidel had a negative net margin of 10.86% and a negative return on equity of 10.27%. The company had revenue of $50.89 million for the quarter, compared to analysts’ expectations of $50.47 million. During the same quarter in the prior year, the firm earned $0.10 EPS. Quidel’s quarterly revenue was up 3.1% compared to the same quarter last year. research analysts forecast that Quidel Co. will post 0.6 EPS for the current year.
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Quidel Company 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.
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