Quidel Co. (NASDAQ:QDEL) has been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $52.20.
QDEL has been the topic of a number of research reports. Zacks Investment Research upgraded Quidel from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Canaccord Genuity restated a “buy” rating and set a $48.00 price objective on shares of Quidel in a research report on Wednesday, October 25th. Barclays boosted their price objective on Quidel from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. Piper Jaffray Companies restated a “buy” rating and set a $50.00 price objective on shares of Quidel in a research report on Friday, November 3rd. Finally, BidaskClub raised Quidel from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd.
In other news, CEO Douglas C. Bryant sold 12,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $36.72, for a total value of $440,640.00. Following the transaction, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at approximately $10,887,222.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $37.36, for a total value of $1,344,960.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at $11,076,978.48. The disclosure for this sale can be found here. Insiders have sold a total of 385,790 shares of company stock worth $15,760,155 over the last ninety days. Company insiders own 22.00% of the company’s stock.
Large investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC lifted its stake in shares of Quidel by 1.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 99,227 shares of the company’s stock valued at $2,693,000 after purchasing an additional 1,062 shares during the period. Swiss National Bank lifted its stake in shares of Quidel by 4.2% in the 3rd quarter. Swiss National Bank now owns 47,200 shares of the company’s stock valued at $2,070,000 after purchasing an additional 1,900 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Quidel by 45.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 174,788 shares of the company’s stock valued at $4,744,000 after purchasing an additional 54,206 shares during the period. Harvest Management LLC acquired a new position in shares of Quidel in the 3rd quarter valued at about $702,000. Finally, Northern Trust Corp raised its stake in Quidel by 6.9% during the 2nd quarter. Northern Trust Corp now owns 377,707 shares of the company’s stock worth $10,250,000 after buying an additional 24,453 shares during the period. 92.69% of the stock is currently owned by institutional investors.
Shares of Quidel (NASDAQ QDEL) opened at $48.06 on Tuesday. The firm has a market capitalization of $1,630.00, a price-to-earnings ratio of -300.38, a P/E/G ratio of 1.51 and a beta of 1.15. Quidel has a 52-week low of $18.25 and a 52-week high of $49.47. The company has a current ratio of 6.28, a quick ratio of 5.68 and a debt-to-equity ratio of 0.70.
Quidel (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.21). The firm had revenue of $50.89 million for the quarter, compared to the consensus estimate of $50.47 million. Quidel had a negative return on equity of 2.36% and a negative net margin of 2.33%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. analysts forecast that Quidel will post -0.23 earnings per share for the current fiscal year.
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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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