California State Teachers Retirement System decreased its holdings in Quidel Corporation (NASDAQ:QDEL) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,168 shares of the company’s stock after selling 3,700 shares during the period. California State Teachers Retirement System owned 0.15% of Quidel worth $1,334,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of QDEL. Acrospire Investment Management LLC grew its position in shares of Quidel by 42.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock worth $100,000 after buying an additional 1,091 shares during the period. Legal & General Group Plc grew its position in Quidel by 4.6% during the 1st quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after purchasing an additional 306 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Quidel during the 2nd quarter valued at about $209,000. First Quadrant L P CA bought a new position in Quidel during the 2nd quarter valued at about $217,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Quidel during the 2nd quarter valued at about $364,000. 92.67% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on the stock. Raymond James Financial reaffirmed a “buy” rating and set a $47.00 price objective (up from $41.00) on shares of Quidel in a report on Tuesday, September 19th. BidaskClub upgraded Quidel from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Piper Jaffray Companies upgraded Quidel from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $50.00 in a research report on Tuesday, September 19th. Zacks Investment Research upgraded Quidel from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Canaccord Genuity restated a “buy” rating and issued a $48.00 price objective (up from $42.00) on shares of Quidel in a report on Tuesday, September 19th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $48.80.
In related news, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $42.91, for a total transaction of $1,544,760.00. Following the transaction, the chief executive officer now owns 296,493 shares in the company, valued at approximately $12,722,514.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas D. Brown sold 12,154 shares of Quidel stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $39.62, for a total value of $481,541.48. Following the completion of the transaction, the director now owns 57,179 shares in the company, valued at $2,265,431.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,465 shares of company stock valued at $7,434,756. Company insiders own 22.00% of the company’s stock.
Shares of Quidel Corporation (QDEL) traded down $0.11 during trading hours on Thursday, reaching $39.69. The company’s stock had a trading volume of 207,632 shares, compared to its average volume of 298,705. Quidel Corporation has a one year low of $18.25 and a one year high of $45.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 6.28 and a quick ratio of 5.68.
Quidel (NASDAQ:QDEL) last announced its earnings results on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). Quidel had a negative return on equity of 2.36% and a negative net margin of 2.33%. The business had revenue of $50.89 million for the quarter, compared to analyst estimates of $50.47 million. During the same period in the previous year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. sell-side analysts anticipate that Quidel Corporation will post 0.6 EPS for the current year.
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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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