Shares of Quidel Co. (NASDAQ:QDEL) have been given an average rating of “Buy” by the ten analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $54.20.
Several equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Quidel from a “hold” rating to a “buy” rating in a research note on Saturday, March 10th. Zacks Investment Research raised shares of Quidel from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Raymond James Financial raised shares of Quidel from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $55.00 to $47.00 in a research note on Thursday, March 8th. UBS raised shares of Quidel from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, March 8th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $52.00 target price (up previously from $48.00) on shares of Quidel in a research note on Thursday, December 21st.
Quidel (NASDAQ:QDEL) traded up $0.57 during trading on Wednesday, reaching $48.59. 321,306 shares of the company were exchanged, compared to its average volume of 353,459. The stock has a market capitalization of $1,673.61, a P/E ratio of -202.46, a price-to-earnings-growth ratio of 1.57 and a beta of 1.03. The company has a current ratio of 2.58, a quick ratio of 2.06 and a debt-to-equity ratio of 1.66. Quidel has a 52 week low of $21.08 and a 52 week high of $49.98.
Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.70. The company had revenue of $114.90 million for the quarter, compared to the consensus estimate of $115.06 million. Quidel had a negative net margin of 2.94% and a negative return on equity of 3.02%. Quidel’s revenue was up 117.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. sell-side analysts anticipate that Quidel will post 1.22 EPS for the current year.
In other news, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $44.50, for a total value of $534,000.00. Following the sale, the chief executive officer now owns 286,493 shares of the company’s stock, valued at $12,748,938.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack W. Schuler sold 4,000 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $44.60, for a total transaction of $178,400.00. Following the completion of the sale, the director now directly owns 3,365,553 shares in the company, valued at approximately $150,103,663.80. The disclosure for this sale can be found here. In the last three months, insiders sold 169,880 shares of company stock worth $7,641,522. Insiders own 22.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Quidel by 2.1% in the fourth quarter. BlackRock Inc. now owns 1,790,347 shares of the company’s stock worth $77,611,000 after purchasing an additional 36,236 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Quidel by 12.7% in the fourth quarter. Macquarie Group Ltd. now owns 1,132,743 shares of the company’s stock worth $49,105,000 after purchasing an additional 128,081 shares during the last quarter. Fred Alger Management Inc. grew its holdings in shares of Quidel by 7.3% in the fourth quarter. Fred Alger Management Inc. now owns 985,376 shares of the company’s stock worth $42,716,000 after purchasing an additional 66,926 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Quidel by 0.7% in the third quarter. New York State Common Retirement Fund now owns 899,390 shares of the company’s stock worth $39,447,000 after purchasing an additional 6,635 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Quidel by 10.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 857,195 shares of the company’s stock worth $37,159,000 after purchasing an additional 83,894 shares during the last quarter. Hedge funds and other institutional investors own 93.37% of the company’s stock.
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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.
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