Quidel Corp. (QDEL) Receives Consensus Rating of “Hold” from Analysts
Shares of Quidel Corp. (NASDAQ:QDEL) have earned an average rating of “Hold” from the eight brokerages that are covering the company. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $21.50.
A number of equities research analysts have commented on QDEL shares. Zacks Investment Research raised shares of Quidel Corp. from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Friday, July 29th. Canaccord Genuity reissued a “hold” rating and issued a $22.00 price objective on shares of Quidel Corp. in a research report on Friday, July 29th.
In related news, SVP John Tamerius sold 7,000 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $23.02, for a total transaction of $161,140.00. Following the completion of the sale, the senior vice president now owns 18,540 shares in the company, valued at approximately $426,790.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas C. Bryant sold 69,168 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $21.76, for a total transaction of $1,505,095.68. Following the sale, the chief executive officer now owns 291,121 shares of the company’s stock, valued at approximately $6,334,792.96. The disclosure for this sale can be found here. 23.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Brown Capital Management LLC boosted its stake in shares of Quidel Corp. by 0.4% in the second quarter. Brown Capital Management LLC now owns 5,748,536 shares of the company’s stock worth $102,669,000 after buying an additional 23,100 shares in the last quarter. Janus Capital Management LLC boosted its stake in Quidel Corp. by 1.3% in the second quarter. Janus Capital Management LLC now owns 2,265,082 shares of the company’s stock valued at $40,454,000 after buying an additional 29,825 shares during the period. Vanguard Group Inc. boosted its stake in Quidel Corp. by 1.7% in the second quarter. Vanguard Group Inc. now owns 1,963,521 shares of the company’s stock valued at $35,069,000 after buying an additional 32,681 shares during the period. Macquarie Group Ltd. boosted its stake in Quidel Corp. by 27.7% in the second quarter. Macquarie Group Ltd. now owns 858,387 shares of the company’s stock valued at $15,331,000 after buying an additional 186,020 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in Quidel Corp. by 0.9% in the second quarter. BlackRock Fund Advisors now owns 639,490 shares of the company’s stock valued at $11,421,000 after buying an additional 5,764 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.
Quidel Corp. (NASDAQ:QDEL) traded up 0.42% on Wednesday, reaching $21.39. 59,587 shares of the company’s stock were exchanged. The company’s market capitalization is $692.86 million. Quidel Corp. has a 1-year low of $13.21 and a 1-year high of $23.94. The firm has a 50-day moving average price of $21.73 and a 200-day moving average price of $19.39.
Quidel Corp. (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.14. Quidel Corp. had a negative net margin of 6.59% and a negative return on equity of 1.06%. The company had revenue of $39.10 million for the quarter, compared to the consensus estimate of $37.98 million. During the same period in the prior year, the firm posted ($0.14) EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that Quidel Corp. will post ($0.14) earnings per share for the current year.
About Quidel Corp.
Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. The Company’s diagnostic testing solutions primarily include applications in infectious diseases, women’s health and gastrointestinal diseases. It 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 and wellness screening centers.
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