Algert Global LLC bought a new stake in Quidel Corporation (NASDAQ:QDEL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 38,717 shares of the company’s stock, valued at approximately $1,051,000. Algert Global LLC owned 0.12% of Quidel Corporation as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Spark Investment Management LLC increased its position in shares of Quidel Corporation by 529.2% in the second quarter. Spark Investment Management LLC now owns 120,800 shares of the company’s stock valued at $3,278,000 after buying an additional 101,600 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Quidel Corporation during the second quarter valued at $386,000. Boston Advisors LLC acquired a new position in shares of Quidel Corporation during the second quarter valued at $521,000. Trellus Management Company LLC increased its position in shares of Quidel Corporation by 98.0% in the second quarter. Trellus Management Company LLC now owns 22,930 shares of the company’s stock valued at $622,000 after buying an additional 11,350 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Quidel Corporation during the second quarter valued at $3,250,000. 89.34% of the stock is owned by institutional investors and hedge funds.

Quidel Corporation (NASDAQ QDEL) opened at 33.11 on Thursday. The company has a 50-day moving average price of $30.97 and a 200 day moving average price of $24.80. Quidel Corporation has a 1-year low of $18.25 and a 1-year high of $38.92. The firm’s market capitalization is $1.11 billion.

Quidel Corporation (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, July 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by $0.18. The firm had revenue of $38.30 million for the quarter, compared to analyst estimates of $41.91 million. Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) earnings per share. Analysts expect that Quidel Corporation will post $0.28 earnings per share for the current fiscal year.

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Several research analysts have recently weighed in on the company. BidaskClub downgraded Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded Quidel Corporation from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 29th. TheStreet downgraded Quidel Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, July 26th. Raymond James Financial, Inc. increased their price objective on Quidel Corporation from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, Barclays PLC increased their price objective on Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.40.

In related news, CEO Douglas C. Bryant sold 12,000 shares of Quidel Corporation stock in a transaction on Friday, May 26th. The stock was sold at an average price of $24.90, for a total transaction of $298,800.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at $7,382,675.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of Quidel Corporation stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $24.98, for a total value of $899,280.00. Following the transaction, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at $7,406,395.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,388 shares of company stock valued at $6,951,432. 22.00% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Quidel Corporation (NASDAQ:QDEL)

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