Quidel Co. (NASDAQ:QDEL)’s share price reached a new 52-week high and low during mid-day trading on Monday . The company traded as low as $56.25 and last traded at $55.94, with a volume of 151173 shares. The stock had previously closed at $55.77.
A number of equities analysts recently issued reports on the stock. William Blair reissued a “buy” rating on shares of Quidel in a research note on Friday. 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 Wednesday, March 28th. ValuEngine raised shares of Quidel from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. Finally, Piper Jaffray restated a “buy” rating and issued a $63.00 price objective on shares of Quidel in a report on Wednesday, April 4th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. Quidel currently has a consensus rating of “Buy” and a consensus target price of $57.29.
The company has a debt-to-equity ratio of 1.66, a quick ratio of 2.06 and a current ratio of 2.58. The firm has a market capitalization of $2,079.19, a PE ratio of -797.86, a P/E/G ratio of 0.92 and a beta of 0.89.
Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.70. Quidel had a negative net margin of 2.94% and a negative return on equity of 3.02%. The business had revenue of $114.90 million for the quarter, compared to the consensus estimate of $115.06 million. During the same period last year, the firm earned $0.17 earnings per share. The company’s quarterly revenue was up 117.6% on a year-over-year basis. analysts forecast that Quidel Co. will post 2.44 earnings per share for the current fiscal year.
In other Quidel news, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $46.82, for a total value of $561,840.00. Following the transaction, the chief executive officer now directly owns 286,493 shares in the company, valued at $13,413,602.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $51.63, for a total transaction of $1,858,680.00. Following the completion of the transaction, the chief executive officer now owns 306,313 shares in the company, valued at $15,814,940.19. The disclosure for this sale can be found here. Insiders sold 120,000 shares of company stock worth $5,751,720 over the last quarter. Insiders own 22.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in QDEL. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Quidel in the 4th quarter valued at about $156,000. Great West Life Assurance Co. Can grew its holdings in shares of Quidel by 162.7% in the third quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock valued at $204,000 after purchasing an additional 2,875 shares during the period. Jane Street Group LLC purchased a new stake in shares of Quidel in the third quarter valued at about $205,000. Teacher Retirement System of Texas purchased a new stake in shares of Quidel in the fourth quarter valued at about $421,000. Finally, Legal & General Group Plc grew its holdings in shares of Quidel by 55.4% in the third quarter. Legal & General Group Plc now owns 11,204 shares of the company’s stock valued at $492,000 after purchasing an additional 3,995 shares during the period. Institutional investors and hedge funds own 93.34% of the company’s stock.
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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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