BidaskClub cut shares of Quidel (NASDAQ:QDEL) from a strong-buy rating to a buy rating in a report published on Tuesday.
Other equities research analysts also recently issued research reports about the company. William Blair reissued a buy rating on shares of Quidel in a research report on Friday, April 13th. Zacks Investment Research raised Quidel from a sell rating to a hold rating in a report on Wednesday, March 28th. Piper Jaffray Companies reaffirmed a buy rating and issued a $63.00 target price on shares of Quidel in a report on Wednesday, April 4th. ValuEngine raised Quidel from a sell rating to a hold rating in a report on Tuesday, April 3rd. Finally, Barclays reaffirmed a buy rating and issued a $65.00 target price on shares of Quidel in a report on Thursday, May 10th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $59.29.
Shares of NASDAQ:QDEL opened at $67.74 on Tuesday. The company has a market cap of $2.48 billion, a P/E ratio of 108.49, a P/E/G ratio of 1.15 and a beta of 0.91. Quidel has a 1 year low of $26.52 and a 1 year high of $70.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.06 and a current ratio of 1.36.
Quidel (NASDAQ:QDEL) last issued its quarterly earnings results on Tuesday, May 8th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.28. The business had revenue of $169.10 million for the quarter, compared to the consensus estimate of $151.50 million. Quidel had a return on equity of 12.54% and a net margin of 3.08%. The firm’s quarterly revenue was up 129.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. analysts anticipate that Quidel will post 2.3 EPS for the current fiscal year.
In other Quidel news, Director Thomas D. Brown sold 30,451 shares of the firm’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $61.34, for a total value of $1,867,864.34. Following the sale, the director now owns 69,960 shares of the company’s stock, valued at approximately $4,291,346.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $51.63, for a total value of $1,858,680.00. Following the completion of the sale, the chief executive officer now directly owns 306,313 shares in the company, valued at approximately $15,814,940.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,006 shares of company stock worth $11,110,379. Company insiders own 16.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in QDEL. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Quidel in the 4th quarter valued at $156,000. Mackay Shields LLC bought a new position in shares of Quidel in the 1st quarter valued at $202,000. Xact Kapitalforvaltning AB bought a new position in shares of Quidel in the 1st quarter valued at $241,000. Teacher Retirement System of Texas bought a new position in shares of Quidel in the 4th quarter valued at $421,000. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of Quidel by 173.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 13,140 shares of the company’s stock valued at $570,000 after acquiring an additional 8,341 shares during the last quarter. Institutional investors own 90.27% of the company’s stock.
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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