Quidel (QDEL) Lowered to Sell at ValuEngine

Quidel (NASDAQ:QDEL) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other research firms have also weighed in on QDEL. BidaskClub raised shares of Quidel from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 5th. Canaccord Genuity raised their price objective on shares of Quidel from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Zacks Investment Research raised shares of Quidel from a “hold” rating to a “strong-buy” rating and set a $80.00 price objective for the company in a report on Tuesday, August 14th. TheStreet raised shares of Quidel from a “c+” rating to a “b” rating in a report on Wednesday, November 7th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $80.00 price objective on shares of Quidel in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Quidel presently has an average rating of “Buy” and a consensus price target of $74.29.

Shares of NASDAQ QDEL traded down $12.59 during mid-day trading on Friday, hitting $48.73. 1,159,541 shares of the stock were exchanged, compared to its average volume of 307,666. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -696.14, a PEG 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 twelve month low of $39.16 and a twelve month high of $77.63.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.16. The company had revenue of $117.40 million during the quarter, compared to analyst estimates of $120.09 million. Quidel had a net margin of 7.26% and a return on equity of 25.63%. The company’s revenue was up 130.6% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. On average, analysts forecast that Quidel will post 2.61 earnings per share for the current year.

In related news, CEO Douglas C. Bryant sold 18,033 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $61.17, for a total value of $1,103,078.61. Following the completion of the sale, the chief executive officer now owns 303,058 shares of the company’s stock, valued at $18,538,057.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas C. Bryant sold 25,250 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $65.19, for a total transaction of $1,646,047.50. Following the completion of the sale, the chief executive officer now directly owns 319,563 shares of the company’s stock, valued at approximately $20,832,311.97. The disclosure for this sale can be found here. In the last three months, insiders sold 78,500 shares of company stock valued at $5,081,373. 16.70% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC increased its holdings in shares of Quidel by 1.3% in the third quarter. Teachers Advisors LLC now owns 71,353 shares of the company’s stock valued at $4,650,000 after purchasing an additional 930 shares in the last quarter. Winslow Evans & Crocker Inc. increased its holdings in shares of Quidel by 26.8% in the third quarter. Winslow Evans & Crocker Inc. now owns 4,470 shares of the company’s stock valued at $292,000 after purchasing an additional 944 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in shares of Quidel by 3.5% in the third quarter. Essex Investment Management Co. LLC now owns 35,785 shares of the company’s stock valued at $2,332,000 after purchasing an additional 1,194 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Quidel by 55.8% in the second quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock valued at $227,000 after purchasing an additional 1,220 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its holdings in shares of Quidel by 8.8% in the second quarter. MetLife Investment Advisors LLC now owns 15,132 shares of the company’s stock valued at $1,006,000 after purchasing an additional 1,229 shares in the last quarter. 90.02% 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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Analyst Recommendations for Quidel (NASDAQ:QDEL)

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