Legal & General Group Plc grew its position in Quidel Co. (NASDAQ:QDEL) by 55.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,204 shares of the company’s stock after buying an additional 3,995 shares during the quarter. Legal & General Group Plc’s holdings in Quidel were worth $492,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in QDEL. TIAA CREF Investment Management LLC boosted its stake in shares of Quidel by 1.1% in the second quarter. TIAA CREF Investment Management LLC now owns 99,227 shares of the company’s stock worth $2,693,000 after buying an additional 1,062 shares during the last quarter. Swiss National Bank boosted its position in Quidel by 4.2% during the third quarter. Swiss National Bank now owns 47,200 shares of the company’s stock worth $2,070,000 after purchasing an additional 1,900 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Quidel by 45.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 174,788 shares of the company’s stock worth $4,744,000 after purchasing an additional 54,206 shares in the last quarter. Harvest Management LLC purchased a new position in Quidel during the third quarter worth approximately $702,000. Finally, Northern Trust Corp boosted its position in Quidel by 6.9% during the second quarter. Northern Trust Corp now owns 377,707 shares of the company’s stock worth $10,250,000 after purchasing an additional 24,453 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Jack W. Schuler sold 4,000 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $47.02, for a total value of $188,080.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Ratan S. Borkar sold 29,880 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $45.15, for a total value of $1,349,082.00. Following the completion of the transaction, the senior vice president now owns 20,253 shares in the company, valued at approximately $914,422.95. The disclosure for this sale can be found here. Insiders have sold 385,790 shares of company stock worth $15,760,155 in the last quarter. Insiders own 22.00% of the company’s stock.
A number of brokerages have commented on QDEL. Piper Jaffray Companies reissued a “buy” rating and set a $50.00 target price on shares of Quidel in a report on Friday, November 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $48.00 price target on shares of Quidel in a report on Wednesday, October 25th. Barclays reaffirmed a “buy” rating and issued a $45.00 price target (up previously from $39.00) on shares of Quidel in a report on Tuesday, September 19th. Zacks Investment Research cut Quidel from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 12th. Finally, BidaskClub raised Quidel from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $50.00.
Quidel Co. (NASDAQ QDEL) opened at $45.99 on Friday. Quidel Co. has a fifty-two week low of $18.25 and a fifty-two week high of $47.60. The company has a quick ratio of 5.68, a current ratio of 6.28 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1,569.64, a price-to-earnings ratio of -306.58, a P/E/G ratio of 1.49 and a beta of 1.15.
Quidel (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 Zacks’ 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 business 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 business earned $0.10 earnings per share. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. research analysts anticipate that Quidel Co. will post -0.23 EPS for the current year.
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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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