Russell Investments Group Ltd. lifted its holdings in shares of Quidel Co. (NASDAQ:QDEL) by 57.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,108 shares of the company’s stock after buying an additional 4,408 shares during the quarter. Russell Investments Group Ltd.’s holdings in Quidel were worth $531,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of QDEL. Acrospire Investment Management LLC grew its holdings in Quidel by 42.2% during the second quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock valued at $100,000 after purchasing an additional 1,091 shares during the period. Legal & General Group Plc lifted its stake in Quidel by 4.0% in the second quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock valued at $197,000 after buying an additional 278 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in Quidel in the second quarter valued at approximately $364,000. Voya Investment Management LLC lifted its stake in Quidel by 11.1% in the second quarter. Voya Investment Management LLC now owns 13,636 shares of the company’s stock valued at $370,000 after buying an additional 1,366 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in Quidel in the second quarter valued at approximately $409,000. Institutional investors own 92.67% of the company’s stock.
In related news, CEO Douglas C. Bryant sold 12,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $41.15, for a total value of $493,800.00. Following the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at $12,200,686.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Werner Kroll sold 7,565 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $39.50, for a total transaction of $298,817.50. Following the completion of the transaction, the senior vice president now owns 10,261 shares in the company, valued at $405,309.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,790 shares of company stock worth $15,760,155. Corporate insiders own 22.00% of the company’s stock.
Quidel Co. (NASDAQ:QDEL) traded up $0.13 during midday trading on Thursday, reaching $45.90. 201,600 shares of the company’s stock traded hands, compared to its average volume of 327,329. 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 Co. has a 1 year low of $18.25 and a 1 year high of $47.60. The company 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.
Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). Quidel 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 analyst estimates of $50.47 million. During the same quarter in the prior 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. sell-side analysts expect that Quidel Co. will post -0.23 EPS for the current fiscal year.
A number of brokerages have weighed in on QDEL. Raymond James Financial reaffirmed 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 raised shares of Quidel from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $35.00 to $50.00 in a research report on Tuesday, September 19th. Zacks Investment Research raised shares of Quidel from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Canaccord Genuity reissued a “buy” rating and issued a $48.00 price objective (up previously from $42.00) on shares of Quidel in a research report on Tuesday, September 19th. Finally, Barclays reissued 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. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $50.00.
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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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