Quidel (NASDAQ:QDEL) had its price target raised by Canaccord Genuity from $55.00 to $64.00 in a research note released on Thursday. They currently have a buy rating on the stock.
Several other research firms have also recently weighed in on QDEL. Zacks Investment Research raised Quidel from a sell rating to a hold rating in a research report on Wednesday, March 28th. BidaskClub raised Quidel from a buy rating to a strong-buy rating in a research report on Tuesday, March 27th. Piper Jaffray reaffirmed a buy rating and set a $63.00 price objective on shares of Quidel in a research report on Wednesday. Barclays lifted their price objective on Quidel from $60.00 to $63.00 and gave the company an overweight rating in a research report on Monday, April 2nd. Finally, UBS raised Quidel from an outperform rating to a strong-buy rating in a research report on Thursday, March 8th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $57.29.
Shares of NASDAQ:QDEL opened at $51.22 on Thursday. Quidel has a 1 year low of $22.25 and a 1 year high of $54.16. The stock has a market cap of $1,785.12, a P/E ratio of -731.71, a price-to-earnings-growth ratio of 0.85 and a beta of 0.89. The company has a current ratio of 2.58, a quick ratio of 2.06 and a debt-to-equity ratio of 1.66.
Quidel (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 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 previous year, the business earned $0.17 EPS. Quidel’s revenue was up 117.6% compared to the same quarter last year. analysts expect that Quidel will post 2.4 earnings per share for the current fiscal year.
In other news, CEO Douglas C. Bryant sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was 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 of the company’s stock, valued at approximately $13,413,602.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $44.32, for a total value of $1,595,520.00. Following the completion of the sale, the chief executive officer now directly owns 302,843 shares in the company, valued at $13,422,001.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,000 shares of company stock worth $5,751,720. Insiders own 22.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. American International Group Inc. boosted its position in shares of Quidel by 8.1% in the 3rd quarter. American International Group Inc. now owns 18,605 shares of the company’s stock worth $816,000 after purchasing an additional 1,390 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Quidel by 2.9% in the 4th quarter. California Public Employees Retirement System now owns 59,799 shares of the company’s stock worth $2,592,000 after purchasing an additional 1,696 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Quidel by 162.7% in the 3rd 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. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Quidel in the 4th quarter worth approximately $156,000. Finally, Legal & General Group Plc boosted its position in shares of Quidel by 55.4% in the 3rd quarter. Legal & General Group Plc now owns 11,204 shares of the company’s stock worth $492,000 after purchasing an additional 3,995 shares in the last quarter. 93.28% of the stock is currently owned by hedge funds and other 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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