Quidel Corporation (QDEL) Shares Sold by Investment Management of Virginia LLC
Investment Management of Virginia LLC lessened its holdings in Quidel Corporation (NASDAQ:QDEL) by 26.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 183,446 shares of the company’s stock after selling 65,897 shares during the quarter. Quidel Corporation accounts for approximately 1.9% of Investment Management of Virginia LLC’s investment portfolio, making the stock its 12th biggest position. Investment Management of Virginia LLC owned about 0.55% of Quidel Corporation worth $8,046,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in QDEL. Chicago Equity Partners LLC bought a new stake in shares of Quidel Corporation in the second quarter valued at about $5,062,000. Marshall Wace North America L.P. raised its stake in Quidel Corporation by 370.1% in the second quarter. Marshall Wace North America L.P. now owns 171,800 shares of the company’s stock valued at $4,639,000 after purchasing an additional 135,253 shares in the last quarter. Renaissance Technologies LLC raised its stake in Quidel Corporation by 27.6% in the second quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock valued at $16,623,000 after purchasing an additional 132,587 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Quidel Corporation in the second quarter valued at about $3,536,000. Finally, Acadian Asset Management LLC acquired a new position in Quidel Corporation in the second quarter valued at about $3,250,000. 86.82% of the stock is owned by institutional investors.
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In other news, CEO Douglas C. Bryant sold 36,000 shares of Quidel Corporation stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $42.91, for a total transaction of $1,544,760.00. Following the completion of the sale, the chief executive officer now owns 296,493 shares in the company, valued at approximately $12,722,514.63. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas C. Bryant sold 12,000 shares of Quidel Corporation stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $42.17, for a total value of $506,040.00. Following the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at approximately $12,503,109.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,000 shares of company stock valued at $4,806,240. Corporate insiders own 22.00% of the company’s stock.
QDEL has been the subject of several research analyst reports. William Blair raised Quidel Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 18th. Zacks Investment Research downgraded Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. BidaskClub downgraded Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Barclays PLC boosted their target price on Quidel Corporation from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. reissued a “buy” rating and set a $47.00 target price (up previously from $41.00) on shares of Quidel Corporation in a research note on Tuesday, September 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $48.80.
Quidel Corporation (QDEL) traded down $0.35 during trading hours on Tuesday, hitting $38.70. The stock had a trading volume of 468,990 shares, compared to its average volume of 445,460. Quidel Corporation has a 52 week low of $18.25 and a 52 week 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 issued its earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.21). Quidel Corporation had a negative return on equity of 2.36% and a negative net margin of 2.33%. The company had revenue of $50.89 million during the quarter, compared to the consensus estimate of $50.47 million. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. sell-side analysts anticipate that Quidel Corporation will post 0.6 earnings per share for the current year.
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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