Shares of Quidel Co. (NASDAQ:QDEL) reached a new 52-week high during trading on Tuesday . The stock traded as high as $50.14 and last traded at $50.05, with a volume of 234346 shares changing hands. The stock had previously closed at $48.39.
Several analysts have recently commented on the stock. BidaskClub upgraded shares of Quidel from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Raymond James Financial upgraded shares of Quidel from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $55.00 to $47.00 in a research report on Thursday, March 8th. UBS upgraded shares of Quidel from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, March 8th. Zacks Investment Research upgraded shares of Quidel from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $60.00 target price on shares of Quidel in a research report on Wednesday, January 24th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Quidel currently has an average rating of “Buy” and an average price target of $53.50.
The company has a market capitalization of $1,686.51, a PE ratio of -208.83, a PEG ratio of 1.59 and a beta of 1.03. The company has a quick ratio of 2.06, a current ratio of 2.58 and a debt-to-equity ratio of 1.66.
Quidel (NASDAQ:QDEL) last announced its earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.70. Quidel had a negative net margin of 2.94% and a negative return on equity of 3.02%. The firm had revenue of $114.90 million for the quarter, compared to analyst estimates of $115.06 million. During the same quarter last year, the business earned $0.17 earnings per share. Quidel’s revenue was up 117.6% compared to the same quarter last year. equities research analysts expect that Quidel Co. will post 1.22 earnings per share for the current year.
In related news, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $44.63, for a total transaction of $535,560.00. Following the sale, the chief executive officer now owns 302,843 shares in the company, valued at $13,515,883.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $44.10, for a total transaction of $1,587,600.00. Following the transaction, the chief executive officer now directly owns 286,493 shares in the company, valued at approximately $12,634,341.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,880 shares of company stock worth $7,463,122. 22.00% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of QDEL. Cornerstone Capital Management Holdings LLC. purchased a new position in Quidel during the fourth quarter worth approximately $156,000. Great West Life Assurance Co. Can raised its stake in Quidel by 162.7% during the third quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock worth $204,000 after purchasing an additional 2,875 shares during the period. Jane Street Group LLC purchased a new position in Quidel during the third quarter worth approximately $205,000. Wolverine Trading LLC purchased a new position in Quidel during the third quarter worth approximately $406,000. Finally, Teacher Retirement System of Texas purchased a new position in Quidel during the fourth quarter worth approximately $421,000. 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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