Russell Investments Group Ltd. Makes New Investment in Quidel Co. (NASDAQ:QDEL)
Russell Investments Group Ltd. acquired a new stake in Quidel Co. (NASDAQ:QDEL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,798 shares of the company’s stock, valued at approximately $110,000.
A number of other institutional investors and hedge funds have also modified their holdings of QDEL. Tower Research Capital LLC TRC increased its position in shares of Quidel by 190.1% in the second quarter. Tower Research Capital LLC TRC now owns 589 shares of the company’s stock valued at $35,000 after buying an additional 386 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Quidel by 300.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 760 shares of the company’s stock valued at $47,000 after buying an additional 570 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Quidel by 7.6% during the 2nd quarter. Prudential Financial Inc. now owns 3,837 shares of the company’s stock valued at $228,000 after buying an additional 270 shares in the last quarter. Balyasny Asset Management LLC purchased a new position in shares of Quidel during the 2nd quarter valued at approximately $234,000. Finally, Capital Fund Management S.A. acquired a new stake in Quidel in the 2nd quarter valued at $237,000. 89.73% of the stock is currently owned by institutional investors.
Several brokerages recently commented on QDEL. Craig Hallum raised shares of Quidel from a “hold” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $75.00 in a report on Thursday, August 29th. BidaskClub raised shares of Quidel from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. TheStreet upgraded shares of Quidel from a “c+” rating to a “b” rating in a research report on Friday, November 1st. Canaccord Genuity reissued a “buy” rating and set a $75.00 target price (up previously from $70.00) on shares of Quidel in a research note on Sunday, November 17th. Finally, Zacks Investment Research raised shares of Quidel from a “sell” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Quidel presently has an average rating of “Buy” and a consensus target price of $74.00.
Shares of Quidel stock opened at $69.05 on Friday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 24.49 and a beta of 1.48. The business has a 50 day simple moving average of $63.04 and a two-hundred day simple moving average of $59.94. Quidel Co. has a 12 month low of $44.27 and a 12 month high of $70.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.46 and a quick ratio of 0.97.
Quidel (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. Quidel had a return on equity of 22.48% and a net margin of 14.51%. The firm had revenue of $126.50 million for the quarter, compared to analyst estimates of $125.52 million. During the same period in the previous year, the company posted $0.59 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Quidel Co. will post 2.55 EPS for the current fiscal year.
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, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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