Zacks Investment Research upgraded shares of Quidel (NASDAQ:QDEL) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning. Zacks Investment Research currently has $76.00 target price on the stock.

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. “

Other equities analysts have also issued reports about the stock. TheStreet raised shares of Quidel from a c+ rating to a b rating in a report on Wednesday, November 7th. BidaskClub lowered shares of Quidel from a strong-buy rating to a buy rating in a report on Tuesday, September 11th. Canaccord Genuity lifted their price target on shares of Quidel from $78.00 to $80.00 and gave the company a buy rating in a report on Monday, September 10th. Craig Hallum lifted their price target on shares of Quidel from $64.00 to $80.00 and gave the company a buy rating in a report on Wednesday, August 8th. Finally, ValuEngine lowered shares of Quidel from a strong-buy rating to a buy rating in a report on Thursday, July 19th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Quidel has an average rating of Buy and an average price target of $74.29.

QDEL stock traded up $2.21 during mid-day trading on Wednesday, hitting $62.97. The stock had a trading volume of 136,852 shares, compared to its average volume of 309,242. The company has a quick ratio of 0.86, a current ratio of 1.26 and a debt-to-equity ratio of 0.21. Quidel has a 52 week low of $33.01 and a 52 week high of $77.63. The firm has a market cap of $2.48 billion, a P/E ratio of -899.57, a P/E/G ratio of 0.96 and a beta of 1.05.

Quidel (NASDAQ:QDEL) last released its earnings results on Tuesday, November 6th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. Quidel had a net margin of 7.26% and a return on equity of 25.63%. The firm had revenue of $117.40 million for the quarter, compared to analyst estimates of $120.09 million. During the same period last year, the firm earned $0.17 EPS. The business’s quarterly revenue was up 130.6% compared to the same quarter last year. Equities analysts predict that Quidel will post 2.63 EPS for the current year.

In related news, CEO Douglas C. Bryant sold 25,250 shares of Quidel stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $65.19, for a total transaction of $1,646,047.50. Following the sale, the chief executive officer now directly owns 319,563 shares of the company’s stock, valued at approximately $20,832,311.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 7,217 shares of Quidel 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 sale, the chief executive officer now directly owns 301,530 shares in the company, valued at $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 over the last ninety days. 16.70% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in Quidel by 33.9% during the 3rd quarter. AQR Capital Management LLC now owns 21,997 shares of the company’s stock worth $1,434,000 after buying an additional 5,570 shares during the period. Macquarie Group Ltd. boosted its position in Quidel by 15.9% during the 3rd quarter. Macquarie Group Ltd. now owns 963,519 shares of the company’s stock worth $62,792,000 after buying an additional 131,980 shares during the period. Advisors Asset Management Inc. boosted its position in Quidel by 1,193.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,909 shares of the company’s stock worth $385,000 after buying an additional 5,452 shares during the period. MetLife Investment Advisors LLC boosted its position in Quidel by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 23,478 shares of the company’s stock worth $1,530,000 after buying an additional 8,346 shares during the period. Finally, Putnam Investments LLC boosted its position in Quidel by 154.7% during the 3rd quarter. Putnam Investments LLC now owns 147,490 shares of the company’s stock worth $9,612,000 after buying an additional 89,579 shares during the period. Institutional investors and hedge funds own 88.29% of the company’s stock.

Quidel Company Profile

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.

See Also: Fiduciary

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