UBS Group upgraded shares of Quidel (NASDAQ:QDEL) from an outperform rating to a strong-buy rating in a report published on Thursday, The Fly reports.
Other analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Quidel from a sell rating to a hold rating in a research report on Saturday, December 2nd. Zacks Investment Research upgraded shares of Quidel from a sell rating to a hold rating in a research report on Friday, February 23rd. Canaccord Genuity reiterated a buy rating and issued a $52.00 price target (up previously from $48.00) on shares of Quidel in a research report on Thursday, December 21st. Piper Jaffray Companies reiterated a buy rating and issued a $50.00 price target on shares of Quidel in a research report on Thursday, December 14th. Finally, Barclays upped their price target on shares of Quidel from $50.00 to $60.00 and gave the company an overweight rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $53.50.
Shares of Quidel (QDEL) opened at $48.95 on Thursday. Quidel has a 12-month low of $20.43 and a 12-month high of $49.98. The company has a quick ratio of 2.06, a current ratio of 2.58 and a debt-to-equity ratio of 1.66.
In other Quidel news, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $44.10, for a total transaction of $1,587,600.00. Following the completion of the transaction, the chief executive officer now owns 286,493 shares in the company, valued at approximately $12,634,341.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack W. Schuler sold 12,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $48.50, for a total transaction of $582,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,967 shares of company stock valued at $13,503,922. 22.00% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Cornerstone Capital Management Holdings LLC. purchased a new position in Quidel during the 4th quarter worth $156,000. Great West Life Assurance Co. Can raised its position in Quidel by 162.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock worth $204,000 after buying an additional 2,875 shares during the last quarter. Jane Street Group LLC purchased a new position in Quidel during the 3rd quarter worth $205,000. Voya Investment Management LLC raised its position in Quidel by 11.1% during the 2nd quarter. Voya Investment Management LLC now owns 13,636 shares of the company’s stock worth $370,000 after buying an additional 1,366 shares during the last quarter. Finally, Wolverine Trading LLC purchased a new position in Quidel during the 3rd quarter worth $406,000. Institutional investors own 93.37% of the company’s stock.
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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