Quidel Corporation (NASDAQ:QDEL) had its target price raised by Barclays PLC from $45.00 to $49.00 in a research note published on Thursday, November 2nd. The brokerage currently has an overweight rating on the stock.
A number of other equities analysts have also issued reports on the stock. Canaccord Genuity reiterated a buy rating and issued a $48.00 price objective on shares of Quidel Corporation in a research report on Wednesday, October 25th. Zacks Investment Research raised Quidel Corporation from a hold rating to a buy rating and set a $50.00 target price for the company in a report on Friday, October 13th. Raymond James Financial, Inc. reissued a buy rating and issued a $47.00 target price (up previously from $41.00) on shares of Quidel Corporation in a report on Tuesday, September 19th. Piper Jaffray Companies raised Quidel Corporation from a neutral rating to an overweight rating and lifted their price target for the stock from $35.00 to $50.00 in a research note on Tuesday, September 19th. Finally, BidaskClub downgraded Quidel Corporation from a buy rating to a hold rating in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $48.80.
Shares of Quidel Corporation (NASDAQ:QDEL) opened at $39.00 on Thursday. Quidel Corporation has a 1 year low of $18.25 and a 1 year high of $45.55. The company has a current ratio of 6.28, a quick ratio of 5.68 and a debt-to-equity ratio of 0.70.
Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). The company had revenue of $50.89 million during the quarter, compared to analysts’ expectations of $50.47 million. Quidel Corporation had a negative net margin of 2.33% and a negative return on equity of 2.36%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. research analysts expect that Quidel Corporation will post 0.6 earnings per share for the current year.
In related news, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $34.44, for a total transaction of $1,239,840.00. Following the transaction, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at approximately $10,211,218.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Werner Kroll sold 7,565 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $39.50, for a total value of $298,817.50. Following the transaction, the senior vice president now directly owns 10,261 shares in the company, valued at $405,309.50. The disclosure for this sale can be found here. Insiders sold a total of 135,530 shares of company stock valued at $5,414,976 in the last 90 days. 22.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in QDEL. Acrospire Investment Management LLC raised its position in shares of Quidel Corporation by 42.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock valued at $100,000 after purchasing an additional 1,091 shares in the last quarter. Legal & General Group Plc raised its position in shares of Quidel Corporation by 4.6% in the 1st quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after purchasing an additional 306 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Quidel Corporation by 162.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock valued at $204,000 after purchasing an additional 2,875 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Quidel Corporation in the 3rd quarter valued at approximately $205,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Quidel Corporation during the 2nd quarter valued at approximately $209,000. 87.92% of the stock is currently owned by institutional investors.
About Quidel Corporation
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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