California Public Employees Retirement System Has $3.55 Million Position in Quidel Co. (QDEL)

California Public Employees Retirement System boosted its holdings in Quidel Co. (NASDAQ:QDEL) by 14.4% in the 1st quarter, Holdings Channel reports. The firm owned 68,422 shares of the company’s stock after buying an additional 8,623 shares during the quarter. California Public Employees Retirement System’s holdings in Quidel were worth $3,545,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Quidel by 2.1% during the fourth quarter. BlackRock Inc. now owns 1,790,347 shares of the company’s stock worth $77,611,000 after acquiring an additional 36,236 shares during the last quarter. Macquarie Group Ltd. increased its stake in 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 acquiring an additional 128,081 shares during the last quarter. Fred Alger Management Inc. increased its stake in Quidel by 7.3% during the fourth quarter. Fred Alger Management Inc. now owns 985,376 shares of the company’s stock worth $42,716,000 after acquiring an additional 66,926 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Quidel by 10.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 857,195 shares of the company’s stock worth $37,159,000 after acquiring an additional 83,894 shares during the last quarter. Finally, Millennium Management LLC increased its stake in 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 acquiring an additional 556,283 shares during the last quarter. Hedge funds and other institutional investors own 90.27% of the company’s stock.

QDEL stock opened at $66.50 on Friday. 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 Co. has a 1 year low of $26.52 and a 1 year high of $70.28. The stock has a market capitalization of $2.48 billion, a PE ratio of -950.00, a P/E/G ratio of 1.15 and a beta of 0.91.

Quidel (NASDAQ:QDEL) last posted its earnings results on Tuesday, May 8th. The company reported $1.29 earnings per share (EPS) for the quarter, beating 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 business had revenue of $169.10 million during the quarter, compared to analyst estimates of $151.50 million. During the same quarter last year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 129.4% compared to the same quarter last year. equities analysts predict that Quidel Co. will post 2.3 earnings per share for the current year.

In other news, Director Thomas D. Brown sold 30,451 shares of the stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $61.34, for a total value of $1,867,864.34. Following the completion of the sale, the director now owns 69,960 shares in the company, valued at $4,291,346.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $66.05, for a total value of $2,377,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,006 shares of company stock valued at $11,629,499. Insiders own 16.70% of the company’s stock.

Several equities research analysts have commented on the company. William Blair restated a “buy” rating on shares of Quidel in a research note on Friday, April 13th. BidaskClub upgraded Quidel from a “hold” rating to a “buy” rating in a research note on Saturday, March 10th. Zacks Investment Research upgraded Quidel from a “sell” rating to a “hold” rating in a research note on Wednesday, March 28th. Piper Jaffray Companies restated a “buy” rating and set a $63.00 price target on shares of Quidel in a research note on Wednesday, April 4th. Finally, ValuEngine upgraded Quidel from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Quidel has an average rating of “Buy” and a consensus target price of $59.29.

About Quidel

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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Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

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