William Blair reiterated their buy rating on shares of Quidel (NASDAQ:QDEL) in a research report released on Friday.
Several other equities analysts have also issued reports on QDEL. Piper Jaffray reiterated a buy rating and issued a $50.00 price objective on shares of Quidel in a research report on Thursday, December 14th. BidaskClub upgraded Quidel from a hold rating to a buy rating in a research report on Thursday, December 21st. Canaccord Genuity reiterated a buy rating and issued a $52.00 price objective (up from $48.00) on shares of Quidel in a research report on Thursday, December 21st. Zacks Investment Research lowered Quidel from a hold rating to a strong sell rating in a research report on Thursday, December 28th. Finally, CL King raised Quidel from a neutral rating to a buy rating and set a $52.00 price target for the company in a research report on Thursday, January 4th. 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 company’s stock. The stock has a consensus rating of Buy and an average price target of $57.29.
Shares of QDEL opened at $56.22 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.58 and a quick ratio of 2.06. Quidel has a 52-week low of $22.44 and a 52-week high of $56.43. The company has a market capitalization of $2,079.19, a P/E ratio of -803.14, a price-to-earnings-growth ratio of 0.92 and a beta of 0.89.
Quidel (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating 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 business 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 firm earned $0.17 EPS. Quidel’s quarterly revenue was up 117.6% compared to the same quarter last year. equities analysts forecast that Quidel will post 2.44 EPS for the current year.
In other news, Director Jack W. Schuler sold 12,000 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction that occurred on 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 directly owns 306,313 shares of the company’s stock, valued at approximately $15,814,940.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,000 shares of company stock valued at $5,751,720. Insiders own 22.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of Quidel in the 4th quarter valued at approximately $603,000. Macquarie Group Ltd. boosted its holdings in shares of Quidel by 12.7% in the 4th quarter. Macquarie Group Ltd. now owns 1,132,743 shares of the company’s stock valued at $49,105,000 after buying an additional 128,081 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Quidel by 2,374.6% in the 4th quarter. Millennium Management LLC now owns 579,709 shares of the company’s stock valued at $25,130,000 after buying an additional 556,283 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Quidel in the 4th quarter valued at approximately $156,000. Finally, York Capital Management Global Advisors LLC boosted its holdings in shares of Quidel by 50.2% in the 4th quarter. York Capital Management Global Advisors LLC now owns 120,371 shares of the company’s stock valued at $5,218,000 after buying an additional 40,243 shares during the last quarter. 93.34% of the stock is 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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