Zacks Investment Research downgraded shares of Quidel (NASDAQ:QDEL) from a strong-buy rating to a hold rating in a research report report published on Thursday.
According to Zacks, “Quidel Corp. discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women’s health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. “
Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Quidel from a c rating to a b rating in a report on Tuesday, May 8th. Piper Jaffray Companies restated a buy rating and set a $60.00 target price on shares of Quidel in a report on Wednesday, January 24th. Craig Hallum initiated coverage on shares of Quidel in a report on Monday, March 26th. They set a buy rating and a $62.00 target price for the company. BidaskClub upgraded shares of Quidel from a hold rating to a buy rating in a report on Saturday, March 10th. Finally, Canaccord Genuity increased their target price on shares of Quidel from $55.00 to $64.00 and gave the stock a buy rating in a report on Thursday, April 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and four have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $59.29.
Shares of Quidel opened at $63.97 on Thursday, according to Marketbeat.com. Quidel has a 12 month low of $23.28 and a 12 month high of $64.53. The firm has a market cap of $2.40 billion, a P/E ratio of -913.86, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. The company has a quick ratio of 1.06, a current ratio of 1.36 and a debt-to-equity ratio of 0.40.
Quidel (NASDAQ:QDEL) last announced its earnings results on Tuesday, May 8th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.28. Quidel had a net margin of 3.08% and a return on equity of 12.54%. The business had revenue of $169.10 million during the quarter, compared to analysts’ expectations of $151.50 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue was up 129.4% on a year-over-year basis. equities research analysts predict that Quidel will post 2.33 EPS for the current year.
In other Quidel news, CEO Douglas C. Bryant sold 12,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $44.63, for a total transaction of $535,560.00. Following the sale, the chief executive officer now directly owns 302,843 shares of the company’s stock, valued at $13,515,883.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $44.32, for a total transaction of $1,595,520.00. Following the sale, the chief executive officer now directly owns 302,843 shares in the company, valued at $13,422,001.76. The disclosure for this sale can be found here. Insiders have sold 144,000 shares of company stock worth $7,299,360 over the last ninety days. Insiders own 16.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Quidel by 2.1% during the fourth quarter. BlackRock Inc. now owns 1,790,347 shares of the company’s stock worth $77,611,000 after acquiring an additional 36,236 shares in the last quarter. Macquarie Group Ltd. raised its position in Quidel by 12.7% during the fourth quarter. Macquarie Group Ltd. now owns 1,132,743 shares of the company’s stock worth $49,105,000 after acquiring an additional 128,081 shares in the last quarter. Millennium Management LLC raised its position in Quidel by 72.0% during the first quarter. Millennium Management LLC now owns 996,815 shares of the company’s stock worth $51,645,000 after acquiring an additional 417,106 shares in the last quarter. Fred Alger Management Inc. raised its position in Quidel by 7.3% during the fourth quarter. Fred Alger Management Inc. now owns 985,376 shares of the company’s stock worth $42,716,000 after acquiring an additional 66,926 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Quidel by 9.0% during the first quarter. Dimensional Fund Advisors LP now owns 925,055 shares of the company’s stock worth $47,927,000 after acquiring an additional 76,339 shares in the last quarter. 87.76% of the stock is currently owned by hedge funds and other 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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