ValuEngine upgraded shares of Quidel (NASDAQ:QDEL) from a buy rating to a strong-buy rating in a research report released on Friday morning.
Several other research analysts have also issued reports on QDEL. Barclays reaffirmed a buy rating and issued a $65.00 target price on shares of Quidel in a research note on Thursday, May 10th. Zacks Investment Research lowered shares of Quidel from a strong-buy rating to a hold rating in a research note on Thursday, May 17th. TheStreet raised shares of Quidel from a c rating to a b rating in a research note on Tuesday, May 8th. BidaskClub raised shares of Quidel from a buy rating to a strong-buy rating in a research note on Tuesday, March 27th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $63.00 target price on shares of Quidel in a research note on Wednesday, April 4th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and four have issued a strong buy rating to the company. Quidel has an average rating of Buy and an average target price of $59.29.
Shares of NASDAQ QDEL opened at $63.48 on Friday. The stock has a market capitalization of $2.40 billion, a PE ratio of -906.86, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.06 and a current ratio of 1.36. Quidel has a 1 year low of $23.28 and a 1 year high of $64.71.
Quidel (NASDAQ:QDEL) last issued its earnings results on Tuesday, May 8th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.28. The company had revenue of $169.10 million for the quarter, compared to analyst estimates of $151.50 million. Quidel had a net margin of 3.08% and a return on equity of 12.54%. The company’s revenue for the quarter was up 129.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. analysts expect that Quidel will post 2.33 EPS for the current year.
In related news, CEO Douglas C. Bryant sold 36,000 shares of Quidel stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $51.63, for a total transaction of $1,858,680.00. Following the transaction, the chief executive officer now owns 306,313 shares of the company’s stock, valued at approximately $15,814,940.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas C. Bryant sold 12,000 shares of Quidel stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $44.63, for a total transaction of $535,560.00. Following the transaction, the chief executive officer now directly owns 302,843 shares in the company, valued at approximately $13,515,883.09. The disclosure for this sale can be found here. Insiders have sold a total of 144,000 shares of company stock worth $7,299,360 in the last three months. 16.70% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. bought a new position in Quidel during the 4th quarter worth approximately $156,000. Mackay Shields LLC bought a new position in Quidel during the 1st quarter worth approximately $202,000. Xact Kapitalforvaltning AB bought a new position in Quidel during the 1st quarter worth approximately $241,000. Teacher Retirement System of Texas bought a new position in Quidel during the 4th quarter worth approximately $421,000. Finally, UBS Asset Management Americas Inc. boosted its stake in Quidel by 173.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 13,140 shares of the company’s stock worth $570,000 after acquiring an additional 8,341 shares during the last quarter. 89.72% of the stock is currently owned by institutional investors and hedge funds.
Quidel Company Profile
Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications in infectious diseases, cardiology, thyroid, women's and general health, eye health, gastrointestinal diseases, and toxicology. The company offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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