First Trust Advisors LP purchased a new position in shares of Quidel Co. (NASDAQ:QDEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 (SEC).
Several other large investors have also made changes to their positions in the company. Great West Life Assurance Co. Can lifted its stake in shares of 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 in the last quarter. Jane Street Group LLC acquired a new position in shares of Quidel in the third quarter worth about $205,000. Wolverine Trading LLC acquired a new position in shares of Quidel in the third quarter worth about $406,000. Teacher Retirement System of Texas acquired a new position in shares of Quidel in the fourth quarter worth about $421,000. Finally, Legal & General Group Plc lifted its stake in shares of Quidel by 55.4% in the third quarter. Legal & General Group Plc now owns 11,204 shares of the company’s stock worth $492,000 after acquiring an additional 3,995 shares in the last quarter. 93.28% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on QDEL shares. Zacks Investment Research cut Quidel from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 28th. Barclays upped their target price on Quidel from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. CL King raised Quidel from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Thursday, January 4th. Piper Jaffray reissued a “buy” rating and issued a $60.00 price objective on shares of Quidel in a report on Wednesday, January 24th. Finally, Canaccord Genuity restated a “buy” rating and issued a $52.00 target price (up from $48.00) on shares of Quidel in a research report on Thursday, December 21st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $57.29.
Shares of NASDAQ QDEL traded down $1.48 during mid-day trading on Friday, reaching $51.22. The company had a trading volume of 368,934 shares, compared to its average volume of 409,113. Quidel Co. has a twelve month low of $22.25 and a twelve month high of $54.16. 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 $1,836.72, a PE ratio of -731.71, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89.
Quidel (NASDAQ:QDEL) last posted its earnings results on Wednesday, February 21st. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.70. The firm had revenue of $114.90 million for the quarter, compared to the consensus estimate of $115.06 million. Quidel had a negative net margin of 2.94% and a negative return on equity of 3.02%. The business’s quarterly revenue was up 117.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. analysts predict that Quidel Co. will post 2.4 EPS for the current year.
In related news, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $51.63, for a total value of $1,858,680.00. Following the completion of the sale, the chief executive officer now owns 306,313 shares in the company, valued at $15,814,940.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $46.82, for a total transaction of $561,840.00. Following the transaction, the chief executive officer now owns 286,493 shares of the company’s stock, valued at approximately $13,413,602.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,000 shares of company stock worth $5,751,720. 22.00% of the stock is currently owned by company insiders.
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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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