Quidel (NASDAQ:QDEL) was upgraded by CL King from a “neutral” rating to a “buy” rating in a report issued on Thursday, January 4th, Marketbeat.com reports. The firm presently has a $52.00 price target on the stock. CL King’s price target suggests a potential upside of 13.29% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $48.00 target price (up previously from $42.00) on shares of Quidel in a report on Tuesday, September 19th. Barclays reissued a “buy” rating and issued a $45.00 price target (up previously from $39.00) on shares of Quidel in a research note on Tuesday, September 19th. Raymond James Financial reissued a “buy” rating and issued a $47.00 price target (up previously from $41.00) on shares of Quidel in a research note on Tuesday, September 19th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $50.00 target price on shares of Quidel in a research note on Friday, November 3rd. Finally, Zacks Investment Research raised Quidel from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $50.00.
Shares of Quidel (NASDAQ QDEL) opened at $45.90 on Thursday. The stock has a market capitalization of $1,560.00, a price-to-earnings ratio of -286.88, a P/E/G ratio of 1.51 and a beta of 1.15. 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 has a one year low of $18.25 and a one year high of $47.60.
Quidel (NASDAQ:QDEL) last announced its quarterly earnings data 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 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 the consensus estimate of $50.47 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. Quidel’s quarterly revenue was up 3.1% compared to the same quarter last year. equities analysts predict that Quidel will post -0.23 earnings per share for the current fiscal year.
In other Quidel news, SVP Robert Joseph Bujarski sold 110,704 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $39.78, for a total value of $4,403,805.12. Following the completion of the sale, the senior vice president now directly owns 79,797 shares of the company’s stock, valued at $3,174,324.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack W. Schuler sold 4,000 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $47.02, for a total value of $188,080.00. The disclosure for this sale can be found here. Insiders sold 385,790 shares of company stock worth $15,760,155 in the last 90 days. Corporate insiders own 22.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in QDEL. Davidson Kempner Capital Management LP purchased a new position in shares of Quidel in the third quarter valued at $6,974,000. Omni Partners LLP purchased a new position in shares of Quidel in the third quarter valued at $6,412,000. Renaissance Technologies LLC grew its position in shares of Quidel by 27.6% in the second quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock valued at $16,623,000 after purchasing an additional 132,587 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Quidel during the second quarter valued at $3,536,000. Finally, Columbus Circle Investors bought a new stake in Quidel during the third quarter valued at $5,504,000. Institutional investors own 92.67% of the company’s stock.
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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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