California State Teachers Retirement System decreased its position in Quidel Corporation (NASDAQ:QDEL) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,168 shares of the company’s stock after selling 3,700 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Quidel Corporation worth $1,334,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in QDEL. Acrospire Investment Management LLC lifted its holdings in 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. Legal & General Group Plc lifted its holdings in Quidel Corporation by 4.6% in the first quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after buying an additional 306 shares during the period. Russell Investments Group Ltd. acquired a new position in Quidel Corporation in the second quarter valued at $209,000. First Quadrant L P CA acquired a new position in Quidel Corporation in the second quarter valued at $217,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Quidel Corporation in the second quarter valued at $364,000. Institutional investors and hedge funds own 87.92% of the company’s stock.
In other Quidel Corporation news, SVP Werner Kroll sold 7,565 shares of Quidel Corporation stock in a transaction on Monday, November 6th. The shares were sold at an average price of $39.50, for a total value of $298,817.50. Following the completion of the sale, the senior vice president now directly owns 10,261 shares of the company’s stock, valued at $405,309.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of Quidel Corporation stock in a transaction on Friday, September 29th. The shares were sold at an average price of $42.91, for a total transaction of $1,544,760.00. Following the completion of the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at $12,722,514.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,530 shares of company stock valued at $5,414,976. Insiders own 22.00% of the company’s stock.
Shares of Quidel Corporation (QDEL) opened at $39.00 on Wednesday. Quidel Corporation has a 52 week low of $18.25 and a 52 week high of $45.55. The company has a quick ratio of 5.68, a current ratio of 6.28 and a debt-to-equity ratio of 0.70.
Quidel Corporation (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.21). Quidel Corporation had a negative net margin of 2.33% and a negative return on equity of 2.36%. The company had revenue of $50.89 million during the quarter, compared to the consensus estimate of $50.47 million. During the same period last year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. equities research analysts expect that Quidel Corporation will post 0.6 EPS for the current fiscal year.
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Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Quidel Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Piper Jaffray Companies restated a “buy” rating and issued a $50.00 target price on shares of Quidel Corporation in a report on Friday, November 3rd. Barclays PLC boosted their target price on shares of Quidel Corporation from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Canaccord Genuity restated a “buy” rating and issued a $48.00 target price on shares of Quidel Corporation in a report on Wednesday, October 25th. Finally, Raymond James Financial, Inc. restated a “buy” rating and issued a $47.00 target price (up previously from $41.00) on shares of Quidel Corporation in a report on Tuesday, September 19th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $48.80.
About Quidel Corporation
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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