Quidel Corporation (NASDAQ:QDEL) SVP Ratan S. Borkar sold 24,781 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $40.05, for a total transaction of $992,479.05. Following the transaction, the senior vice president now owns 10,811 shares in the company, valued at $432,980.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Quidel Corporation (NASDAQ QDEL) traded up $0.71 during mid-day trading on Friday, reaching $40.40. 374,155 shares of the company’s stock were exchanged, compared to its average volume of 299,003. The company has a current ratio of 6.28, a quick ratio of 5.68 and a debt-to-equity ratio of 0.70. Quidel Corporation has a one year low of $18.25 and a one year high of $45.55.
Quidel (NASDAQ:QDEL) last issued its earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $50.89 million for the quarter, compared to analysts’ expectations of $50.47 million. During the same period last year, the firm earned $0.10 earnings per share. Quidel’s revenue for the quarter was up 3.1% on a year-over-year basis. research analysts anticipate that Quidel Corporation will post 0.6 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Wolverine Trading LLC purchased a new position in Quidel during the third quarter worth about $406,000. California Public Employees Retirement System raised its stake in Quidel by 3.8% during the third quarter. California Public Employees Retirement System now owns 58,103 shares of the company’s stock worth $2,548,000 after purchasing an additional 2,103 shares during the period. Davidson Kempner Capital Management LP purchased a new position in Quidel during the third quarter worth about $6,974,000. Jane Street Group LLC purchased a new position in Quidel during the third quarter worth about $205,000. Finally, Omni Partners LLP purchased a new position in Quidel during the third quarter worth about $6,412,000. 92.67% of the stock is currently owned by institutional investors.
QDEL has been the topic of a number of recent research reports. Piper Jaffray Companies upgraded shares of Quidel from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $35.00 to $50.00 in a research report on Tuesday, September 19th. Raymond James Financial restated a “buy” rating and set a $47.00 price target (up from $41.00) on shares of Quidel in a research report on Tuesday, September 19th. Barclays restated a “buy” rating and set a $45.00 price target (up from $39.00) on shares of Quidel in a research report on Tuesday, September 19th. Canaccord Genuity restated a “buy” rating and set a $48.00 price target (up from $42.00) on shares of Quidel in a research report on Tuesday, September 19th. Finally, Zacks Investment Research upgraded shares of Quidel from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $48.80.
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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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