Quidel (NASDAQ:QDEL) announced its quarterly earnings data on Wednesday. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.70, Bloomberg Earnings reports. Quidel had a negative return on equity of 2.36% and a negative net margin of 2.33%. The company had revenue of $114.90 million for the quarter, compared to the consensus estimate of $115.06 million. During the same quarter in the prior year, the company posted $0.17 EPS. Quidel’s quarterly revenue was up 117.6% on a year-over-year basis.
Quidel (QDEL) traded up $0.28 on Thursday, hitting $46.41. The stock had a trading volume of 282,600 shares, compared to its average volume of 304,239. Quidel has a fifty-two week low of $20.43 and a fifty-two week high of $49.47. 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 company has a market cap of $1,568.28, a P/E ratio of -309.38, a price-to-earnings-growth ratio of 1.49 and a beta of 1.02.
QDEL has been the topic of a number of recent research reports. Zacks Investment Research downgraded Quidel from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 28th. Barclays increased their price target on Quidel from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. CL King raised Quidel from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Thursday, January 4th. Canaccord Genuity reissued a “buy” rating and set a $48.00 price target on shares of Quidel in a research report on Wednesday, October 25th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $60.00 price target on shares of Quidel in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $53.50.
In related news, SVP Werner Kroll sold 16,358 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $40.44, for a total transaction of $661,517.52. Following the sale, the senior vice president now owns 10,818 shares of the company’s stock, valued at $437,479.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $46.82, for a total value of $561,840.00. Following the sale, the chief executive officer now directly owns 286,493 shares in the company, valued at approximately $13,413,602.26. The disclosure for this sale can be found here. Insiders have sold a total of 370,260 shares of company stock worth $15,293,980 in the last three months. Corporate insiders own 22.00% of the company’s stock.
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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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