Brokerages Anticipate Quidel Corporation (QDEL) Will Post Quarterly Sales of $42.17 Million
Equities analysts expect Quidel Corporation (NASDAQ:QDEL) to post sales of $42.17 million for the current quarter, Zacks reports. Two analysts have provided estimates for Quidel Corporation’s earnings. The lowest sales estimate is $39.66 million and the highest is $44.68 million. Quidel Corporation reported sales of $39.13 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.8%. The business is expected to report its next earnings results on Wednesday, July 26th.
According to Zacks, analysts expect that Quidel Corporation will report full-year sales of $42.17 million for the current financial year, with estimates ranging from $228.81 million to $232.09 million. For the next year, analysts anticipate that the business will report sales of $242.42 million per share, with estimates ranging from $238.60 million to $248.09 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Quidel Corporation.
Quidel Corporation (NASDAQ:QDEL) last posted its quarterly earnings results on Monday, April 24th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.30. Quidel Corporation had a return on equity of 1.94% and a net margin of 1.83%. The firm had revenue of $73.70 million during the quarter, compared to analysts’ expectations of $61.85 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The company’s revenue was up 46.5% on a year-over-year basis.
QDEL has been the subject of a number of research analyst reports. CL King initiated coverage on Quidel Corporation in a research note on Friday, February 17th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Quidel Corporation from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research note on Tuesday, March 14th. TheStreet upgraded Quidel Corporation from a “d+” rating to a “c-” rating in a research note on Tuesday, April 18th. Canaccord Genuity restated a “hold” rating and issued a $24.50 target price (up previously from $24.00) on shares of Quidel Corporation in a research note on Tuesday, April 25th. Finally, Barclays PLC raised their target price on Quidel Corporation from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.50.
In related news, CEO Douglas C. Bryant sold 37,080 shares of Quidel Corporation stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $22.50, for a total value of $834,300.00. Following the sale, the chief executive officer now directly owns 297,573 shares in the company, valued at approximately $6,695,392.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert Joseph Bujarski sold 43,225 shares of Quidel Corporation stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $24.27, for a total value of $1,049,070.75. Following the completion of the sale, the senior vice president now owns 50,984 shares in the company, valued at $1,237,381.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,530 shares of company stock worth $5,056,456. 22.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of QDEL. First Mercantile Trust Co. boosted its stake in Quidel Corporation by 0.8% in the first quarter. First Mercantile Trust Co. now owns 5,280 shares of the company’s stock valued at $120,000 after buying an additional 40 shares during the last quarter. Legal & General Group Plc boosted its stake in Quidel Corporation by 4.6% in the first quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after buying an additional 306 shares during the last quarter. Trellus Management Company LLC purchased a new stake in Quidel Corporation during the first quarter valued at about $262,000. Alambic Investment Management L.P. purchased a new stake in Quidel Corporation during the first quarter valued at about $263,000. Finally, American International Group Inc. boosted its stake in Quidel Corporation by 7.1% in the first quarter. American International Group Inc. now owns 16,546 shares of the company’s stock valued at $375,000 after buying an additional 1,099 shares during the last quarter. Institutional investors own 89.61% of the company’s stock.
Quidel Corporation (NASDAQ:QDEL) opened at 25.74 on Friday. The stock has a 50 day moving average price of $25.01 and a 200 day moving average price of $22.27. Quidel Corporation has a 1-year low of $16.63 and a 1-year high of $26.98. The stock has a market cap of $854.70 million, a PE ratio of 214.50 and a beta of 1.23.
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Quidel Corporation Company Profile
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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