Quidel (NASDAQ:QDEL)‘s stock had its “buy” rating restated by analysts at Canaccord Genuity in a research note issued to investors on Thursday, December 21st, The Fly reports. They currently have a $52.00 price objective on the stock, up from their previous price objective of $48.00. Canaccord Genuity’s price target indicates a potential upside of 13.07% from the company’s current price.
Other equities analysts have also recently issued reports about the company. BidaskClub upgraded Quidel from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Piper Jaffray Companies restated a “buy” rating and set a $50.00 price target on shares of Quidel in a report on Thursday, December 14th. Barclays restated a “buy” rating and set a $45.00 price target (up from $39.00) on shares of Quidel in a 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 report on Tuesday, September 19th. Finally, Zacks Investment Research upgraded Quidel from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, October 13th. One 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 price target of $50.00.
Shares of Quidel (NASDAQ:QDEL) opened at $45.99 on Thursday. Quidel has a twelve month low of $18.25 and a twelve month high of $47.60. 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) 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 the consensus estimate of $50.47 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. equities analysts anticipate that Quidel will post -0.23 EPS for the current year.
In related news, SVP Werner Kroll sold 7,565 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $39.50, for a total value of $298,817.50. Following the completion of the sale, the senior vice president now directly owns 10,261 shares of the company’s stock, valued at approximately $405,309.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $36.72, for a total value of $440,640.00. Following the completion of the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at $10,887,222.96. 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. 22.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QDEL. Acrospire Investment Management LLC raised its position in Quidel by 42.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock valued at $100,000 after buying an additional 1,091 shares during the last quarter. Legal & General Group Plc raised its position in Quidel by 4.0% in the 2nd 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 during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Quidel by 162.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock valued at $204,000 after purchasing an additional 2,875 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Quidel during the 3rd quarter valued at $205,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Quidel during the 2nd quarter valued at $209,000. 92.67% of the stock is owned by institutional investors and hedge funds.
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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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