Wall Street analysts forecast that Quidel Co. (NASDAQ:QDEL) will post earnings of $0.95 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Quidel’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $0.98. Quidel posted earnings per share of $0.42 during the same quarter last year, which indicates a positive year-over-year growth rate of 126.2%. The business is expected to report its next quarterly earnings report on Monday, April 23rd.
On average, analysts expect that Quidel will report full year earnings of $2.62 per share for the current fiscal year, with EPS estimates ranging from $2.48 to $2.75. For the next financial year, analysts anticipate that the firm will post earnings of $2.93 per share, with EPS estimates ranging from $2.91 to $2.95. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Quidel.
Quidel (NASDAQ:QDEL) last posted its earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $114.90 million during the quarter, compared to analyst estimates of $115.06 million. During the same period in the previous year, the company earned $0.17 EPS. The company’s revenue for the quarter was up 117.6% on a year-over-year basis.
Several research firms recently weighed in on QDEL. Zacks Investment Research upgraded Quidel from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Craig Hallum began coverage on Quidel in a report on Monday, March 26th. They issued a “buy” rating and a $62.00 target price for the company. Raymond James Financial upgraded Quidel from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $55.00 to $47.00 in a report on Thursday, March 8th. Barclays boosted their target price on Quidel from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Finally, BidaskClub upgraded Quidel from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $57.29.
QDEL opened at $54.55 on Monday. Quidel has a twelve month low of $22.35 and a twelve month high of $54.68. The company has a current ratio of 2.58, a quick ratio of 2.06 and a debt-to-equity ratio of 1.66.
In other news, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $51.63, for a total transaction of $1,858,680.00. Following the completion of the transaction, the chief executive officer now directly owns 306,313 shares in the company, valued at $15,814,940.19. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jack W. Schuler sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,000 shares of company stock valued at $5,751,720. Corporate insiders own 22.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new position in shares of Quidel during the fourth quarter worth approximately $603,000. Macquarie Group Ltd. lifted its holdings in shares of Quidel by 12.7% during the fourth quarter. Macquarie Group Ltd. now owns 1,132,743 shares of the company’s stock worth $49,105,000 after buying an additional 128,081 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Quidel by 2,374.6% during the fourth quarter. Millennium Management LLC now owns 579,709 shares of the company’s stock worth $25,130,000 after buying an additional 556,283 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Quidel during the fourth quarter worth approximately $156,000. Finally, York Capital Management Global Advisors LLC lifted its holdings in shares of Quidel by 50.2% during the fourth quarter. York Capital Management Global Advisors LLC now owns 120,371 shares of the company’s stock worth $5,218,000 after buying an additional 40,243 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.
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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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