Quidel Corporation (QDEL) Rating Reiterated by Canaccord Genuity
Quidel Corporation (NASDAQ:QDEL)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity in a report issued on Tuesday. They presently have a $48.00 target price on the stock, up from their prior target price of $42.00. Canaccord Genuity’s target price would suggest a potential upside of 17.33% from the company’s current price.
A number of other research firms also recently commented on QDEL. William Blair raised shares of Quidel Corporation from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 18th. Zacks Investment Research downgraded shares of Quidel Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 21st. BidaskClub downgraded shares of Quidel Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Barclays PLC boosted their price objective on shares of Quidel Corporation from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. boosted their price objective on shares of Quidel Corporation from $41.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Quidel Corporation has an average rating of “Buy” and a consensus target price of $38.40.
Quidel Corporation (NASDAQ:QDEL) traded up 8.04% on Tuesday, hitting $44.20. 1,777,640 shares of the company traded hands. The stock’s market cap is $1.48 billion. Quidel Corporation has a 12 month low of $18.25 and a 12 month high of $45.55. The stock’s 50-day moving average is $34.09 and its 200 day moving average is $27.67.
Quidel Corporation (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, July 26th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.18). The company had revenue of $38.30 million for the quarter, compared to analysts’ expectations of $41.91 million. Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS. Equities research analysts expect that Quidel Corporation will post $0.28 earnings per share for the current fiscal year.
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In other Quidel Corporation news, SVP Michael Donald Jr. Abney sold 1,173 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $33.83, for a total value of $39,682.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $33.83, for a total transaction of $1,217,880.00. Following the completion of the sale, the chief executive officer now directly owns 296,493 shares in the company, valued at approximately $10,030,358.19. The disclosure for this sale can be found here. Insiders sold 203,388 shares of company stock worth $6,691,992 in the last ninety days. Insiders own 22.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Acrospire Investment Management LLC lifted its holdings in shares of Quidel Corporation by 42.2% in the second 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 lifted its holdings in shares of 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 purchasing an additional 306 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Quidel Corporation in the second quarter valued at about $209,000. First Quadrant L P CA purchased a new stake in shares of Quidel Corporation in the second quarter valued at about $217,000. Finally, Alambic Investment Management L.P. purchased a new stake in shares of Quidel Corporation in the first quarter valued at about $263,000. 87.17% of the stock is currently owned by institutional investors.
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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