First Trust Advisors LP acquired a new stake in Quidel Co. (NASDAQ:QDEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 65,208 shares of the company’s stock, valued at approximately $2,827,000. First Trust Advisors LP owned approximately 0.19% of Quidel as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in Quidel by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,831 shares of the company’s stock valued at $593,000 after purchasing an additional 333 shares in the last quarter. American International Group Inc. lifted its holdings in Quidel by 8.1% in the 3rd quarter. American International Group Inc. now owns 18,605 shares of the company’s stock valued at $816,000 after purchasing an additional 1,390 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Quidel by 2.9% in the 4th quarter. California Public Employees Retirement System now owns 59,799 shares of the company’s stock valued at $2,592,000 after purchasing an additional 1,696 shares in the last quarter. Swiss National Bank lifted its holdings in 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 in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in Quidel by 162.7% in 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 in the last quarter. Institutional investors own 93.37% of the company’s stock.
Quidel Co. (NASDAQ QDEL) opened at $48.02 on Friday. Quidel Co. has a fifty-two week low of $20.95 and a fifty-two week high of $49.98. The company has a current ratio of 2.58, a quick ratio of 2.06 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $1,690.69, a price-to-earnings ratio of -200.08, a PEG ratio of 1.59 and a beta of 1.03.
Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.70. Quidel had a negative return on equity of 3.02% and a negative net margin of 2.94%. The business had revenue of $114.90 million for the quarter, compared to analyst estimates of $115.06 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The company’s quarterly revenue was up 117.6% compared to the same quarter last year. research analysts expect that Quidel Co. will post 1.22 earnings per share for the current year.
Several research analysts have recently commented on QDEL shares. CL King upgraded Quidel from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Thursday, January 4th. Barclays lifted their price target on Quidel from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Piper Jaffray Companies reiterated a “buy” rating and set a $50.00 price target on shares of Quidel in a report on Thursday, December 14th. Zacks Investment Research lowered Quidel from a “hold” rating to a “strong sell” rating in a report on Thursday, December 28th. Finally, BidaskClub upgraded Quidel from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Quidel currently has an average rating of “Buy” and a consensus price target of $53.50.
In related news, SVP Ratan S. Borkar sold 29,880 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $45.15, for a total transaction of $1,349,082.00. Following the completion of the sale, the senior vice president now directly owns 20,253 shares of the company’s stock, valued at approximately $914,422.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack W. Schuler sold 4,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $44.60, for a total value of $178,400.00. Following the sale, the director now directly owns 3,365,553 shares of the company’s stock, valued at $150,103,663.80. The disclosure for this sale can be found here. Insiders have sold a total of 169,880 shares of company stock valued at $7,641,522 over the last three months. Corporate insiders own 22.00% of the company’s stock.
WARNING: “First Trust Advisors LP Invests $2.83 Million in Quidel Co. (QDEL) Stock” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.dispatchtribunal.com/2018/03/16/first-trust-advisors-lp-invests-2-83-million-in-quidel-co-qdel-stock.html.
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.
Receive News & Ratings for Quidel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quidel and related companies with MarketBeat.com's FREE daily email newsletter.