TheStreet upgraded shares of Quidel (NASDAQ:QDEL) from a c+ rating to a b rating in a report released on Wednesday morning.
Several other analysts have also recently commented on QDEL. ValuEngine cut shares of Quidel from a strong-buy rating to a buy rating in a research report on Thursday, July 19th. Barclays upped their target price on shares of Quidel from $65.00 to $78.00 and gave the company an overweight rating in a research report on Monday, August 6th. Piper Jaffray Companies reiterated an overweight rating and set a $74.00 target price on shares of Quidel in a research report on Wednesday, August 8th. Craig Hallum upped their target price on shares of Quidel from $64.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, August 8th. Finally, Canaccord Genuity upped their target price on shares of Quidel from $75.00 to $78.00 and gave the company a buy rating in a research report on Tuesday, August 14th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $74.14.
Shares of Quidel stock opened at $66.06 on Wednesday. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -943.71, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05. Quidel has a 52 week low of $33.01 and a 52 week high of $77.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.71.
Quidel (NASDAQ:QDEL) last issued its earnings results on Tuesday, November 6th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. The company had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $120.09 million. Quidel had a net margin of 7.26% and a return on equity of 27.28%. The business’s revenue for the quarter was up 130.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, sell-side analysts forecast that Quidel will post 2.55 EPS for the current year.
In related news, SVP Robert Joseph Bujarski sold 38,550 shares of the company’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $70.15, for a total value of $2,704,282.50. Following the completion of the sale, the senior vice president now owns 26,153 shares in the company, valued at approximately $1,834,632.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Douglas C. Bryant sold 7,217 shares of the company’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $65.10, for a total transaction of $469,826.70. Following the completion of the sale, the chief executive officer now owns 301,530 shares of the company’s stock, valued at approximately $19,629,603. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,667 shares of company stock valued at $11,298,592. 16.70% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in shares of Quidel in the 3rd quarter valued at $689,000. FIL Ltd bought a new stake in shares of Quidel in the 3rd quarter valued at $4,630,000. American International Group Inc. increased its position in shares of Quidel by 6.2% in the 3rd quarter. American International Group Inc. now owns 22,681 shares of the company’s stock valued at $1,478,000 after buying an additional 1,316 shares in the last quarter. BlackRock Inc. increased its position in shares of Quidel by 4.7% in the 3rd quarter. BlackRock Inc. now owns 2,291,654 shares of the company’s stock valued at $149,348,000 after buying an additional 102,724 shares in the last quarter. Finally, Artemis Investment Management LLP increased its position in shares of Quidel by 5.8% in the 3rd quarter. Artemis Investment Management LLP now owns 183,738 shares of the company’s stock valued at $11,968,000 after buying an additional 10,102 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.
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.
Read More: How can you know how many shares are floating?
Receive News & Ratings for Quidel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quidel and related companies with MarketBeat.com's FREE daily email newsletter.