Quidel (QDEL) Rating Lowered to Hold at Zacks Investment Research

Quidel (NASDAQ:QDEL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Quidel Corp. discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women’s health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. “

Several other research firms also recently weighed in on QDEL. Craig Hallum downgraded Quidel from a “buy” rating to a “hold” rating and dropped their price objective for the company from $80.00 to $51.00 in a research note on Monday, December 10th. BidaskClub raised Quidel from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. ValuEngine downgraded Quidel from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. TheStreet raised Quidel from a “c+” rating to a “b” rating in a research note on Wednesday, November 7th. Finally, Raymond James reissued a “strong-buy” rating and set a $80.00 price target on shares of Quidel in a research report on Tuesday, October 23rd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $68.00.

NASDAQ QDEL opened at $52.67 on Wednesday. Quidel has a 1-year low of $41.50 and a 1-year high of $77.63. The company has a market capitalization of $1.99 billion, a P/E ratio of 25.94, a PEG ratio of 0.75 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 1.26 and a debt-to-equity ratio of 0.21.

Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16. Quidel had a return on equity of 25.63% and a net margin of 7.26%. The firm had revenue of $117.40 million during the quarter, compared to the consensus estimate of $120.09 million. During the same period last year, the business posted $0.17 EPS. Quidel’s quarterly revenue was up 130.6% on a year-over-year basis. On average, equities research analysts expect that Quidel will post 2.61 EPS for the current fiscal year.

In other Quidel news, CFO Randall J. Steward sold 15,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $61.51, for a total transaction of $922,650.00. Following the completion of the transaction, the chief financial officer now owns 16,790 shares of the company’s stock, valued at $1,032,752.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas C. Bryant sold 18,033 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $61.17, for a total value of $1,103,078.61. Following the transaction, the chief executive officer now directly owns 303,058 shares of the company’s stock, valued at approximately $18,538,057.86. The disclosure for this sale can be found here. Insiders have sold 40,250 shares of company stock valued at $2,495,555 in the last three months. 16.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in QDEL. Eagle Asset Management Inc. increased its position in 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 in the last quarter. Carillon Tower Advisers Inc. purchased a new stake in shares of Quidel in the third quarter valued at $25,294,000. BlackRock Inc. grew its position in shares of Quidel by 22.2% in the second quarter. BlackRock Inc. now owns 2,188,930 shares of the company’s stock valued at $145,564,000 after purchasing an additional 396,989 shares during the period. Vanguard Group Inc grew its position in shares of Quidel by 5.5% in the third quarter. Vanguard Group Inc now owns 2,929,387 shares of the company’s stock valued at $190,909,000 after purchasing an additional 152,702 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Quidel by 5.5% in the third quarter. Vanguard Group Inc. now owns 2,929,387 shares of the company’s stock valued at $190,909,000 after purchasing an additional 152,702 shares during the period. 90.02% of the stock is owned by 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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