Equities analysts forecast that Quidel Co. (NASDAQ:QDEL) will announce $115.02 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Quidel’s earnings, with the lowest sales estimate coming in at $110.75 million and the highest estimate coming in at $122.15 million. Quidel posted sales of $52.81 million during the same quarter last year, which would indicate a positive year over year growth rate of 117.8%. The company is scheduled to report its next quarterly earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that Quidel will report full-year sales of $115.02 million for the current financial year, with estimates ranging from $273.60 million to $285.91 million. For the next fiscal year, analysts expect that the company will report sales of $489.01 million per share, with estimates ranging from $485.10 million to $491.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Quidel.
Several research firms have recently issued reports on QDEL. BidaskClub lowered shares of Quidel from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Piper Jaffray Companies reiterated a “buy” rating and issued a $60.00 target price on shares of Quidel in a research note on Wednesday, January 24th. Barclays upped their target price on shares of Quidel from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. CL King upgraded shares of Quidel from a “neutral” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Thursday, January 4th. Finally, Zacks Investment Research lowered shares of Quidel from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $53.50.
Quidel (NASDAQ QDEL) traded down $1.34 during midday trading on Friday, hitting $43.58. 228,996 shares of the stock traded hands, compared to its average volume of 330,021. Quidel has a 12-month low of $18.25 and a 12-month high of $49.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.68 and a current ratio of 6.28. The company has a market cap of $1,527.14, a price-to-earnings ratio of -290.51, a price-to-earnings-growth ratio of 1.45 and a beta of 1.02.
In related news, SVP Robert Joseph Bujarski sold 110,704 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $39.78, for a total value of $4,403,805.12. Following the transaction, the senior vice president now directly owns 79,797 shares of the company’s stock, valued at approximately $3,174,324.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ratan S. Borkar sold 7,965 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $38.91, for a total transaction of $309,918.15. Following the completion of the transaction, the senior vice president now directly owns 11,084 shares in the company, valued at $431,278.44. The disclosure for this sale can be found here. Insiders sold a total of 378,225 shares of company stock worth $15,603,898 over the last three months. 22.00% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Quidel by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,195,101 shares of the company’s stock worth $59,575,000 after buying an additional 68,549 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Quidel by 8.1% in the 2nd quarter. Macquarie Group Ltd. now owns 1,292,492 shares of the company’s stock worth $35,078,000 after buying an additional 96,565 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Quidel by 0.7% in the 3rd quarter. New York State Common Retirement Fund now owns 899,390 shares of the company’s stock worth $39,447,000 after buying an additional 6,635 shares during the last quarter. Fred Alger Management Inc. boosted its holdings in shares of Quidel by 0.4% in the 2nd quarter. Fred Alger Management Inc. now owns 672,880 shares of the company’s stock worth $18,262,000 after buying an additional 2,757 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Quidel by 27.6% in the 2nd quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock worth $16,623,000 after buying an additional 132,587 shares during the last quarter. 93.28% of the stock is currently owned by institutional investors.
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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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