Quidel (NASDAQ:QDEL) Raised to “Buy” at CL King

Quidel (NASDAQ:QDEL) was upgraded by investment analysts at CL King from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, January 4th, Marketbeat Ratings reports. The brokerage presently has a $52.00 target price on the stock. CL King’s price target points to a potential upside of 12.63% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Raymond James Financial reiterated a “buy” rating and set a $47.00 target price (up previously from $41.00) on shares of Quidel in a research note on Tuesday, September 19th. Piper Jaffray Companies upgraded Quidel from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $50.00 in a research note on Tuesday, September 19th. Zacks Investment Research upgraded Quidel from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Canaccord Genuity reiterated a “buy” rating and set a $48.00 target price (up previously from $42.00) on shares of Quidel in a research note on Tuesday, September 19th. Finally, Barclays reiterated a “buy” rating and set a $45.00 target price (up previously from $39.00) on shares of Quidel in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Quidel has a consensus rating of “Buy” and an average price target of $50.00.

Quidel (NASDAQ:QDEL) traded up $0.27 during trading hours on Thursday, reaching $46.17. The company’s stock had a trading volume of 248,000 shares, compared to its average volume of 317,413. The company has a quick ratio of 5.68, a current ratio of 6.28 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1,560.00, a price-to-earnings ratio of -288.56, a price-to-earnings-growth ratio of 1.51 and a beta of 1.15. Quidel has a 12-month low of $18.25 and a 12-month high of $47.60.

Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.21). The business had revenue of $50.89 million during the quarter, compared to the consensus estimate of $50.47 million. Quidel had a negative net margin of 2.33% and a negative return on equity of 2.36%. Quidel’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. equities research analysts forecast that Quidel will post -0.23 earnings per share for the current fiscal year.

In related news, Director Jack W. Schuler sold 4,000 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $47.02, for a total transaction of $188,080.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $42.29, for a total value of $507,480.00. Following the transaction, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at $12,538,688.97. The disclosure for this sale can be found here. Insiders have sold 385,790 shares of company stock worth $15,760,155 in the last three months. 22.00% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc raised its position in Quidel by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock worth $197,000 after purchasing an additional 278 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Quidel by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,831 shares of the company’s stock valued at $593,000 after purchasing an additional 333 shares during the last quarter. AHL Partners LLP boosted its stake in Quidel by 4.0% during the 2nd quarter. AHL Partners LLP now owns 18,666 shares of the company’s stock valued at $507,000 after purchasing an additional 718 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Quidel by 1.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 99,227 shares of the company’s stock worth $2,693,000 after buying an additional 1,062 shares during the last quarter. Finally, Acrospire Investment Management LLC boosted its stake in shares of Quidel by 42.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock worth $100,000 after buying an additional 1,091 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

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Quidel Company Profile

Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. These diagnostic testing solutions are separated into four product categories: immunoassays, molecular assays, virology and specialty products. The Company sells its products directly to end users and distributors, in each case, for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, universities, retail clinics, pharmacies and wellness screening centers.

Analyst Recommendations for Quidel (NASDAQ:QDEL)

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