Mackay Shields LLC lessened its holdings in Quidel Co. (NASDAQ:QDEL) by 94.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200 shares of the company’s stock after selling 19,400 shares during the period. Mackay Shields LLC’s holdings in Quidel were worth $264,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC lifted its stake in shares of Quidel by 111.3% during the second quarter. FMR LLC now owns 2,895,385 shares of the company’s stock valued at $647,814,000 after buying an additional 1,525,325 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Quidel during the second quarter valued at approximately $122,313,000. Cannell Peter B & Co. Inc. lifted its stake in shares of Quidel by 96.4% during the second quarter. Cannell Peter B & Co. Inc. now owns 522,571 shares of the company’s stock valued at $116,920,000 after buying an additional 256,436 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Quidel by 130.5% during the second quarter. Bank of New York Mellon Corp now owns 388,427 shares of the company’s stock valued at $86,906,000 after buying an additional 219,881 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of Quidel by 119.6% during the second quarter. Prudential Financial Inc. now owns 228,981 shares of the company’s stock valued at $51,232,000 after buying an additional 124,688 shares during the period. 87.72% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on QDEL shares. ValuEngine downgraded shares of Quidel from a “hold” rating to a “sell” rating in a research note on Monday, November 2nd. Zacks Investment Research increased their price target on shares of Quidel to $279.00 in a research note on Wednesday, October 21st. Craig Hallum increased their price target on shares of Quidel from $306.00 to $363.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Piper Sandler increased their price target on shares of Quidel from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, BidaskClub raised shares of Quidel from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $229.00.
In other news, CEO Douglas C. Bryant purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average cost of $174.99 per share, with a total value of $874,950.00. Following the acquisition, the chief executive officer now owns 455,823 shares in the company, valued at $79,764,466.77. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mary Lake Ph D. Polan sold 11,743 shares of the firm’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $275.83, for a total transaction of $3,239,071.69. Following the sale, the director now directly owns 11,141 shares of the company’s stock, valued at $3,073,022.03. The disclosure for this sale can be found here. 14.10% of the stock is owned by corporate insiders.
Quidel stock opened at $187.19 on Friday. Quidel Co. has a 52-week low of $63.78 and a 52-week high of $306.72. The firm has a fifty day moving average of $247.47 and a 200-day moving average of $216.75. The firm has a market capitalization of $7.87 billion, a P/E ratio of 52.43 and a beta of 0.84.
Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Thursday, October 29th. The company reported $5.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.31 by $1.47. Quidel had a net margin of 23.61% and a return on equity of 33.86%. The company had revenue of $476.10 million during the quarter, compared to analyst estimates of $445.30 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The business’s quarterly revenue was up 276.4% compared to the same quarter last year. Sell-side analysts forecast that Quidel Co. will post 13.59 earnings per share for the current fiscal year.
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 worldwide. It offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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