Quidel Co. (NASDAQ:QDEL) was upgraded by equities research analysts at TheStreet from a “d+” rating to a “c-” rating in a report issued on Tuesday.
QDEL has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Quidel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Canaccord Genuity reissued a “hold” rating and issued a $22.00 price objective on shares of Quidel in a research report on Monday, January 23rd. Finally, CL King began coverage on shares of Quidel in a research report on Friday, February 17th. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $22.38.
Quidel (NASDAQ:QDEL) traded up 0.29% during trading on Tuesday, hitting $23.84. 75,204 shares of the stock were exchanged. Quidel has a 12-month low of $15.15 and a 12-month high of $23.94. The firm’s market capitalization is $785.53 million. The stock has a 50 day moving average price of $22.12 and a 200-day moving average price of $21.23.
Quidel (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, February 8th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. Quidel had a negative net margin of 7.21% and a negative return on equity of 0.50%. The company earned $52.80 million during the quarter, compared to the consensus estimate of $58.42 million. During the same quarter last year, the firm posted $0.10 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts anticipate that Quidel will post $0.17 earnings per share for the current fiscal year.
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In related news, CEO Douglas C. Bryant sold 37,080 shares of Quidel stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $22.50, for a total transaction of $834,300.00. Following the completion of the sale, the chief executive officer now owns 297,573 shares of the company’s stock, valued at approximately $6,695,392.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas C. Bryant sold 106,920 shares of Quidel stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $21.39, for a total transaction of $2,287,018.80. The disclosure for this sale can be found here. Insiders own 23.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in QDEL. Wells Fargo & Company MN increased its stake in shares of Quidel by 26.1% in the third quarter. Wells Fargo & Company MN now owns 13,544 shares of the company’s stock valued at $299,000 after buying an additional 2,800 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of Quidel during the third quarter valued at approximately $384,000. Zacks Investment Management bought a new stake in shares of Quidel during the third quarter valued at approximately $754,000. SG Americas Securities LLC increased its stake in shares of Quidel by 20.2% in the third quarter. SG Americas Securities LLC now owns 41,440 shares of the company’s stock valued at $915,000 after buying an additional 6,975 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Quidel during the fourth quarter valued at approximately $940,000. 92.20% of the stock is owned by institutional investors and hedge funds.
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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