Brokerages Expect Quidel Co. (QDEL) to Post $0.62 EPS

Brokerages predict that Quidel Co. (NASDAQ:QDEL) will post $0.62 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Quidel’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.50. Quidel reported earnings of ($0.11) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 663.6%. The business is expected to report its next earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that Quidel will report full-year earnings of $2.88 per share for the current financial year, with EPS estimates ranging from $2.74 to $2.96. For the next fiscal year, analysts anticipate that the business will report earnings of $2.97 per share, with EPS estimates ranging from $2.82 to $3.08. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Quidel.

Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The business had revenue of $117.40 million during the quarter, compared to the consensus estimate of $120.09 million. Quidel had a return on equity of 25.63% and a net margin of 7.26%. The firm’s revenue was up 130.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 earnings per share.

QDEL has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Quidel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. BidaskClub raised Quidel from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Canaccord Genuity boosted their target price on Quidel from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, August 14th. ValuEngine cut Quidel from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. Finally, TheStreet raised Quidel from a “c+” rating to a “b” rating in a research note on Wednesday, November 7th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $74.29.

NASDAQ QDEL traded up $0.41 on Friday, reaching $61.73. The company had a trading volume of 2,365 shares, compared to its average volume of 182,939. The company has a market capitalization of $2.36 billion, a PE ratio of -874.43, a P/E/G ratio of 0.92 and a beta of 1.04. The company has a current ratio of 1.26, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Quidel has a 52 week low of $39.16 and a 52 week high of $77.63.

In other Quidel news, VP Edward Keith Russell sold 13,000 shares of the business’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $72.29, for a total value of $939,770.00. Following the completion of the transaction, the vice president now directly owns 16,493 shares of the company’s stock, valued at $1,192,278.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Randall J. Steward sold 15,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $61.51, for a total value of $922,650.00. Following the completion of the transaction, the chief financial officer now directly owns 16,790 shares of the company’s stock, valued at $1,032,752.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,500 shares of company stock valued at $5,081,373. Insiders own 16.70% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Eagle Asset Management Inc. boosted its position in shares of Quidel by 225.8% during the third quarter. Eagle Asset Management Inc. now owns 652,048 shares of the company’s stock worth $42,493,000 after buying an additional 451,940 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of Quidel during the third quarter worth about $25,294,000. BlackRock Inc. boosted its position in shares of Quidel by 22.2% during the second quarter. BlackRock Inc. now owns 2,188,930 shares of the company’s stock worth $145,564,000 after buying an additional 396,989 shares during the period. Rothschild Asset Management Inc. acquired a new position in shares of Quidel during the second quarter worth about $25,441,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Quidel during the second quarter worth about $12,857,000. 90.02% of the stock is owned by hedge funds and other institutional investors.

Quidel Company Profile

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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