Quidel Corporation (QDEL) Holdings Trimmed by Cannell Peter B & Co. Inc.
Cannell Peter B & Co. Inc. reduced its holdings in shares of Quidel Corporation (NASDAQ:QDEL) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 408,800 shares of the company’s stock after selling 65,000 shares during the period. Cannell Peter B & Co. Inc. owned 1.20% of Quidel Corporation worth $17,930,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of QDEL. Teachers Advisors LLC grew its holdings in Quidel Corporation by 4.6% during the 1st quarter. Teachers Advisors LLC now owns 49,537 shares of the company’s stock worth $1,122,000 after acquiring an additional 2,170 shares during the period. Legal & General Group Plc grew its stake in shares of Quidel Corporation by 4.6% in the 1st 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 period. Vanguard Group Inc. grew its stake in shares of Quidel Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 2,126,552 shares of the company’s stock valued at $48,145,000 after buying an additional 87,995 shares during the period. Geode Capital Management LLC grew its stake in shares of Quidel Corporation by 3.9% in the 1st quarter. Geode Capital Management LLC now owns 224,463 shares of the company’s stock valued at $5,081,000 after buying an additional 8,441 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Quidel Corporation by 5.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 120,582 shares of the company’s stock valued at $2,730,000 after buying an additional 6,480 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.
Several analysts have recently commented on the company. Barclays PLC raised their target price on Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. BidaskClub downgraded Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Piper Jaffray Companies upgraded Quidel Corporation from a “neutral” rating to an “overweight” rating and raised their target price for the company from $35.00 to $50.00 in a research note on Tuesday, September 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $48.00 price target (up previously from $42.00) on shares of Quidel Corporation in a research report on Tuesday, September 19th. Finally, Zacks Investment Research cut shares of Quidel Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Quidel Corporation has an average rating of “Buy” and an average target price of $48.80.
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In related news, SVP Werner Kroll sold 7,565 shares of Quidel Corporation stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $39.50, for a total value of $298,817.50. Following the completion of the transaction, the senior vice president now directly owns 10,261 shares in the company, valued at approximately $405,309.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ratan S. Borkar sold 7,965 shares of Quidel Corporation stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $38.91, for a total transaction of $309,918.15. Following the completion of the transaction, the senior vice president now owns 11,084 shares of the company’s stock, valued at $431,278.44. The disclosure for this sale can be found here. Insiders sold a total of 135,530 shares of company stock worth $5,414,976 in the last ninety days. 22.00% of the stock is currently owned by insiders.
Quidel Corporation (QDEL) traded up $0.44 during trading on Tuesday, hitting $38.38. 230,400 shares of the company’s stock traded hands, compared to its average volume of 285,647. Quidel Corporation has a 1 year low of $18.25 and a 1 year 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 posted its earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). The firm had revenue of $50.89 million for the quarter, compared to the consensus estimate of $50.47 million. Quidel Corporation had a negative return on equity of 2.36% and a negative net margin of 2.33%. Quidel Corporation’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS. sell-side analysts expect that Quidel Corporation will post 0.6 earnings per share for the current fiscal year.
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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