Quidel (QDEL) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Quidel (NASDAQ:QDEL) from a strong-buy rating to a buy rating in a report issued on Saturday.

QDEL has been the topic of a number of other reports. TheStreet upgraded shares of Quidel from a c rating to a b rating in a research note on Tuesday, May 8th. ValuEngine lowered shares of Quidel from a strong-buy rating to a buy rating in a research note on Thursday, July 19th. Craig Hallum raised their target price on shares of Quidel from $64.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, August 8th. Barclays reiterated a buy rating and issued a $65.00 target price on shares of Quidel in a research note on Thursday, May 10th. Finally, Canaccord Genuity raised their target price on shares of Quidel from $75.00 to $78.00 and gave the company a buy rating in a research note on Tuesday, August 14th. Eight investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $69.86.

Shares of QDEL opened at $71.59 on Friday. Quidel has a 12 month low of $32.23 and a 12 month high of $73.36. The firm has a market cap of $2.73 billion, a PE ratio of -1,000.86, a price-to-earnings-growth ratio of 1.10 and a beta of 0.93. The company has a current ratio of 1.10, a quick ratio of 0.71 and a debt-to-equity ratio of 0.22.

Quidel (NASDAQ:QDEL) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.12. Quidel had a net margin of 4.63% and a return on equity of 19.39%. The company had revenue of $103.16 million for the quarter, compared to analyst estimates of $102.15 million. equities research analysts forecast that Quidel will post 2.55 earnings per share for the current fiscal year.

In related news, SVP Robert Joseph Bujarski sold 38,550 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $70.15, for a total value of $2,704,282.50. Following the transaction, the senior vice president now directly owns 26,153 shares in the company, valued at approximately $1,834,632.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Lake Ph D. Polan sold 16,002 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $70.03, for a total transaction of $1,120,620.06. Following the completion of the sale, the director now directly owns 29,653 shares of the company’s stock, valued at $2,076,599.59. The disclosure for this sale can be found here. Insiders sold a total of 257,755 shares of company stock worth $17,352,113 over the last quarter. 16.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Great West Life Assurance Co. Can boosted its holdings in Quidel by 55.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock valued at $227,000 after purchasing an additional 1,220 shares during the period. MetLife Investment Advisors LLC boosted its holdings in Quidel by 8.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 15,132 shares of the company’s stock valued at $1,006,000 after purchasing an additional 1,229 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in Quidel by 15.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,686 shares of the company’s stock valued at $711,000 after purchasing an additional 1,466 shares during the period. Swiss National Bank boosted its holdings in Quidel by 4.0% in the 2nd quarter. Swiss National Bank now owns 51,600 shares of the company’s stock valued at $3,431,000 after purchasing an additional 2,000 shares during the period. Finally, Chicago Equity Partners LLC boosted its holdings in Quidel by 4.8% in the 1st quarter. Chicago Equity Partners LLC now owns 47,060 shares of the company’s stock valued at $2,438,000 after purchasing an additional 2,170 shares during the period. 88.46% of the stock is owned by hedge funds and other institutional investors.

About Quidel

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 products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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Analyst Recommendations for Quidel (NASDAQ:QDEL)

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