Quidel (NASDAQ:QDEL) had its price target lifted by investment analysts at Raymond James from $72.00 to $74.00 in a research note issued on Monday, AnalystRatings.com reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 15.01% from the stock’s previous close.
QDEL has been the subject of several other research reports. Craig Hallum upped their target price on shares of Quidel from $51.00 to $63.00 and gave the company a “hold” rating in a research report on Thursday, February 14th. ValuEngine cut shares of Quidel from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Zacks Investment Research cut shares of Quidel from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Finally, Barclays reiterated a “buy” rating and set a $74.00 target price on shares of Quidel in a research report on Friday, February 15th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Quidel has a consensus rating of “Buy” and an average price target of $72.67.
NASDAQ:QDEL traded up $0.40 during trading hours on Monday, hitting $64.34. 99,248 shares of the stock were exchanged, compared to its average volume of 233,211. Quidel has a twelve month low of $44.27 and a twelve month high of $77.63. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 1.21. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 0.92 and a beta of 1.37.
Quidel (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, February 13th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.21. Quidel had a return on equity of 31.73% and a net margin of 14.20%. The firm had revenue of $132.59 million for the quarter, compared to the consensus estimate of $132.26 million. During the same quarter in the prior year, the business earned $0.56 EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities analysts predict that Quidel will post 2.77 EPS for the current fiscal year.
In related news, VP Edward Keith Russell sold 13,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $64.60, for a total value of $839,800.00. Following the completion of the sale, the vice president now owns 22,598 shares in the company, valued at approximately $1,459,830.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Randall J. Steward sold 39,103 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $67.50, for a total transaction of $2,639,452.50. Following the completion of the sale, the chief financial officer now owns 58,562 shares of the company’s stock, valued at approximately $3,952,935. The disclosure for this sale can be found here. In the last 90 days, insiders sold 282,848 shares of company stock valued at $18,490,522. 16.70% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Quidel by 16.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,353 shares of the company’s stock worth $115,000 after purchasing an additional 333 shares in the last quarter. United Services Automobile Association boosted its stake in shares of Quidel by 7.7% during the 4th quarter. United Services Automobile Association now owns 7,914 shares of the company’s stock worth $386,000 after buying an additional 566 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Quidel by 6.9% during the 4th quarter. Legal & General Group Plc now owns 13,708 shares of the company’s stock worth $670,000 after buying an additional 883 shares during the last quarter. Cutler Group LP acquired a new position in shares of Quidel during the 4th quarter worth about $43,000. Finally, Teachers Advisors LLC boosted its stake in shares of Quidel by 1.3% during the 3rd quarter. Teachers Advisors LLC now owns 71,353 shares of the company’s stock worth $4,650,000 after buying an additional 930 shares during the last quarter. Institutional investors and hedge funds own 92.88% 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, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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