Quidel Co. (NASDAQ:QDEL) – Equities researchers at William Blair decreased their FY2018 EPS estimates for shares of Quidel in a research report issued to clients and investors on Tuesday, May 22nd. William Blair analyst B. Weinstein now anticipates that the company will earn $2.29 per share for the year, down from their prior estimate of $2.35. William Blair has a “Buy” rating on the stock. William Blair also issued estimates for Quidel’s FY2019 earnings at $2.38 EPS.
Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Tuesday, May 8th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.28. Quidel had a return on equity of 12.54% and a net margin of 3.08%. The company had revenue of $169.10 million during the quarter, compared to analysts’ expectations of $151.50 million. During the same quarter in the previous year, the firm earned $0.45 EPS. Quidel’s revenue was up 129.4% on a year-over-year basis.
A number of other research firms have also recently commented on QDEL. ValuEngine raised Quidel from a “buy” rating to a “strong-buy” rating in a report on Friday, May 18th. Zacks Investment Research cut Quidel from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 17th. TheStreet raised Quidel from a “c” rating to a “b” rating in a report on Tuesday, May 8th. Barclays reissued a “buy” rating and set a $65.00 price target on shares of Quidel in a report on Thursday, May 10th. Finally, Canaccord Genuity boosted their price target on Quidel from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, April 5th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and four have given a strong buy rating to the company’s stock. Quidel currently has a consensus rating of “Buy” and an average price target of $59.29.
Quidel stock opened at $61.90 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.36 and a debt-to-equity ratio of 0.40. Quidel has a 52 week low of $23.28 and a 52 week high of $64.71. The firm has a market cap of $2.33 billion, a PE ratio of -884.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90.
In other Quidel news, CEO Douglas C. Bryant sold 12,000 shares of the company’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $56.02, for a total value of $672,240.00. Following the completion of the transaction, the chief executive officer now owns 306,313 shares of the company’s stock, valued at approximately $17,159,654.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 302,843 shares of the company’s stock, valued at approximately $13,422,001.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,000 shares of company stock valued at $7,299,360. Insiders own 16.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Quidel in the 4th quarter valued at about $156,000. Mackay Shields LLC bought a new stake in shares of Quidel in the 1st quarter valued at about $202,000. Xact Kapitalforvaltning AB bought a new stake in shares of Quidel in the 1st quarter valued at about $241,000. Teacher Retirement System of Texas bought a new stake in shares of Quidel in the 4th quarter valued at about $421,000. Finally, UBS Asset Management Americas Inc. grew its position in shares of Quidel by 173.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 13,140 shares of the company’s stock valued at $570,000 after buying an additional 8,341 shares during the last quarter. 89.72% of the stock is 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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