Zacks Investment Research downgraded shares of Quidel (NASDAQ:QDEL) from a buy rating to a hold rating in a report released on Friday.

According to Zacks, “Quidel Corp. discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women’s health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. “

Several other analysts have also weighed in on QDEL. ValuEngine lowered Quidel from a strong-buy rating to a buy rating in a research note on Thursday, July 19th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $74.00 price objective on shares of Quidel in a research note on Wednesday, August 8th. TheStreet lowered Quidel from a b rating to a c+ rating in a research note on Wednesday, August 8th. BidaskClub raised Quidel from a buy rating to a strong-buy rating in a research note on Wednesday, August 15th. Finally, Canaccord Genuity increased their target price on Quidel from $75.00 to $78.00 and gave the company a buy rating in a research report on Tuesday, August 14th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $74.14.

NASDAQ:QDEL traded down $2.34 during trading hours on Friday, hitting $66.06. The company’s stock had a trading volume of 246,241 shares, compared to its average volume of 224,066. The firm has a market capitalization of $2.62 billion, a PE ratio of -943.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05. The company has a quick ratio of 0.71, a current ratio of 1.10 and a debt-to-equity ratio of 0.22. Quidel has a twelve month low of $33.01 and a twelve month high of $77.63.

Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16. The business had revenue of $117.40 million for the quarter, compared to analyst estimates of $120.09 million. Quidel had a return on equity of 27.28% and a net margin of 7.26%. Quidel’s revenue was up 130.6% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. On average, analysts anticipate that Quidel will post 2.55 EPS for the current fiscal year.

In other Quidel news, CEO Douglas C. Bryant sold 7,217 shares of the stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $65.10, for a total value of $469,826.70. Following the completion of the transaction, the chief executive officer now directly owns 301,530 shares in the company, valued at $19,629,603. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth F. Buechler sold 5,000 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $75.01, for a total value of $375,050.00. Following the completion of the transaction, the director now owns 53,519 shares of the company’s stock, valued at $4,014,460.19. The disclosure for this sale can be found here. Insiders sold 162,667 shares of company stock valued at $11,298,592 over the last quarter. Corporate insiders own 16.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. NewSquare Capital LLC bought a new position in Quidel in the second quarter valued at about $178,000. Meeder Asset Management Inc. raised its position in shares of Quidel by 383.5% during the third quarter. Meeder Asset Management Inc. now owns 2,659 shares of the company’s stock worth $173,000 after acquiring an additional 2,109 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Quidel by 55.8% during the second quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock worth $227,000 after acquiring an additional 1,220 shares during the last quarter. Winslow Evans & Crocker Inc. bought a new position in shares of Quidel during the second quarter worth about $236,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Quidel during the first quarter worth about $241,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

About Quidel

Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications in infectious diseases, cardiology, thyroid, women's and general health, eye health, gastrointestinal diseases, and toxicology. The company offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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