William Blair Analysts Cut Earnings Estimates for Quidel Co. (QDEL)
Quidel Co. (NASDAQ:QDEL) – Research analysts at William Blair dropped their Q4 2018 EPS estimates for shares of Quidel in a research report issued on Wednesday, November 7th. William Blair analyst B. Weinstein now expects that the company will post earnings per share of $0.62 for the quarter, down from their prior forecast of $0.67. William Blair also issued estimates for Quidel’s Q3 2019 earnings at $0.57 EPS.
Quidel (NASDAQ:QDEL) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.43 by $0.16. The firm had revenue of $117.40 million during the quarter, compared to analyst estimates of $120.09 million. Quidel had a net margin of 7.26% and a return on equity of 25.63%. Quidel’s revenue was up 130.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS.
NASDAQ QDEL opened at $62.99 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.26 and a quick ratio of 0.86. The company has a market cap of $2.60 billion, a P/E ratio of -899.86, a PEG ratio of 1.03 and a beta of 1.05. Quidel has a 52 week low of $33.01 and a 52 week high of $77.63.
Institutional investors have recently modified their holdings of the business. NewSquare Capital LLC acquired a new position in Quidel during the 2nd quarter valued at approximately $178,000. Meeder Asset Management Inc. increased its stake in Quidel by 383.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,659 shares of the company’s stock valued at $173,000 after purchasing an additional 2,109 shares in the last quarter. Alambic Investment Management L.P. acquired a new position in Quidel during the 3rd quarter valued at approximately $205,000. Great West Life Assurance Co. Can increased its stake in Quidel by 55.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock valued at $227,000 after purchasing an additional 1,220 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in Quidel during the 3rd quarter valued at approximately $224,000. Institutional investors and hedge funds own 88.29% of the company’s stock.
In other Quidel news, CFO Randall J. Steward sold 38,162 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $70.15, for a total transaction of $2,677,064.30. Following the transaction, the chief financial officer now owns 69,952 shares in the company, valued at approximately $4,907,132.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 7,217 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $65.10, for a total transaction of $469,826.70. Following the transaction, the chief executive officer now owns 301,530 shares in the company, valued at approximately $19,629,603. The disclosure for this sale can be found here. Insiders have sold a total of 147,067 shares of company stock worth $10,204,720 in the last 90 days. 16.70% of the stock is currently owned by company insiders.
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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