Wall Street brokerages forecast that Quidel Co. (NASDAQ:QDEL) will post sales of $132.43 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Quidel’s earnings, with the lowest sales estimate coming in at $130.50 million and the highest estimate coming in at $135.20 million. Quidel posted sales of $114.89 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.3%. The business is expected to announce its next earnings report on Wednesday, February 20th.
On average, analysts expect that Quidel will report full-year sales of $522.10 million for the current financial year, with estimates ranging from $520.20 million to $524.80 million. For the next year, analysts anticipate that the company will report sales of $531.26 million, with estimates ranging from $523.36 million to $536.40 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Quidel.
Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The business had revenue of $117.40 million during the quarter, compared to the consensus estimate of $120.09 million. Quidel had a return on equity of 25.63% and a net margin of 7.26%. The firm’s revenue was up 130.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 earnings per share.
A number of equities research analysts recently commented on QDEL shares. TheStreet upgraded Quidel from a “c+” rating to a “b” rating in a report on Wednesday, November 7th. Zacks Investment Research upgraded Quidel from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, November 8th. Canaccord Genuity upped their price objective on Quidel from $75.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. BidaskClub downgraded Quidel from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 25th. Finally, ValuEngine downgraded Quidel from a “buy” rating to a “hold” rating in a report on Monday, November 12th. Two research analysts have rated the stock with a hold rating, six 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 an average target price of $74.29.
NASDAQ QDEL traded up $0.41 on Tuesday, reaching $61.73. The company had a trading volume of 2,365 shares, compared to its average volume of 182,939. The company has a market capitalization of $2.36 billion, a PE ratio of -874.43, a P/E/G ratio of 0.92 and a beta of 1.04. The company has a current ratio of 1.26, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Quidel has a 52 week low of $39.16 and a 52 week high of $77.63.
In other Quidel news, CFO Randall J. Steward sold 15,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $61.51, for a total value of $922,650.00. Following the completion of the transaction, the chief financial officer now directly owns 16,790 shares of the company’s stock, valued at $1,032,752.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Edward Keith Russell sold 13,000 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $72.29, for a total value of $939,770.00. Following the completion of the transaction, the vice president now directly owns 16,493 shares of the company’s stock, valued at $1,192,278.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,500 shares of company stock valued at $5,081,373. Insiders own 16.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Northern Trust Corp boosted its position in shares of Quidel by 15.4% during the second quarter. Northern Trust Corp now owns 423,108 shares of the company’s stock worth $28,136,000 after buying an additional 56,538 shares during the period. United Services Automobile Association boosted its position in shares of Quidel by 26.4% during the second quarter. United Services Automobile Association now owns 7,382 shares of the company’s stock worth $491,000 after buying an additional 1,542 shares during the period. Swiss National Bank boosted its position in shares of Quidel by 4.0% during the second quarter. Swiss National Bank now owns 51,600 shares of the company’s stock worth $3,431,000 after buying an additional 2,000 shares during the period. Rothschild Asset Management Inc. acquired a new position in shares of Quidel during the second quarter worth about $25,441,000. Finally, Rhumbline Advisers boosted its position in shares of Quidel by 16.6% during the second quarter. Rhumbline Advisers now owns 33,335 shares of the company’s stock worth $2,217,000 after buying an additional 4,754 shares during the period. 90.02% of the stock is owned by institutional investors.
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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