Quidel (QDEL) Downgraded by ValuEngine

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ValuEngine downgraded shares of Quidel (NASDAQ:QDEL) from a hold rating to a sell rating in a research report report published on Friday morning.

A number of other equities research analysts also recently commented on the company. BidaskClub downgraded Quidel from a strong-buy rating to a buy rating in a report on Tuesday, September 11th. Canaccord Genuity boosted their price target on Quidel from $78.00 to $80.00 and gave the company a buy rating in a report on Monday, September 10th. Raymond James reissued a strong-buy rating and issued a $80.00 price target on shares of Quidel in a report on Tuesday, October 23rd. TheStreet raised Quidel from a c+ rating to a b rating in a report on Wednesday, November 7th. Finally, Zacks Investment Research raised Quidel from a hold rating to a buy rating and set a $75.00 price target for the company in a report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Quidel presently has a consensus rating of Buy and an average target price of $74.29.

Shares of Quidel stock traded down $12.59 on Friday, reaching $48.73. 1,159,541 shares of the stock were exchanged, compared to its average volume of 189,770. 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 has a twelve month low of $39.16 and a twelve month high of $77.63. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -696.14, a price-to-earnings-growth ratio of 0.94 and a beta of 1.04.

Quidel (NASDAQ:QDEL) last released its earnings results on Tuesday, November 6th. The company reported $0.59 EPS for the quarter, topping the Zacks’ 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 quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue was up 130.6% compared to the same quarter last year. Research analysts anticipate that Quidel will post 2.61 EPS for the current fiscal year.

In related news, CEO Douglas C. Bryant sold 25,250 shares of the stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $65.19, for a total transaction of $1,646,047.50. Following the transaction, the chief executive officer now owns 319,563 shares of the company’s stock, valued at approximately $20,832,311.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Edward Keith Russell sold 13,000 shares of the 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 transaction, the vice president now directly owns 16,493 shares in the company, valued at approximately $1,192,278.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,500 shares of company stock valued at $5,081,373. 16.70% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Quidel by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,929,387 shares of the company’s stock worth $190,909,000 after acquiring an additional 152,702 shares during the last quarter. BlackRock Inc. raised its holdings in Quidel by 4.7% during the 3rd quarter. BlackRock Inc. now owns 2,291,654 shares of the company’s stock valued at $149,348,000 after buying an additional 102,724 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Quidel by 15.9% during the 3rd quarter. Macquarie Group Ltd. now owns 963,519 shares of the company’s stock valued at $62,792,000 after buying an additional 131,980 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Quidel by 4.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 902,018 shares of the company’s stock valued at $59,984,000 after buying an additional 41,789 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Quidel by 225.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 652,048 shares of the company’s stock valued at $42,493,000 after buying an additional 451,940 shares during the last quarter. 90.02% of the stock is currently 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Quidel (NASDAQ:QDEL)

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