Insider Selling: Quidel Corporation (QDEL) CEO Sells $1,544,760.00 in Stock
Quidel Corporation (NASDAQ:QDEL) CEO Douglas C. Bryant sold 36,000 shares of Quidel Corporation stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $42.91, for a total transaction of $1,544,760.00. Following the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at $12,722,514.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Quidel Corporation (QDEL) opened at 43.86 on Monday. The firm’s market cap is $1.47 billion. The stock’s 50 day moving average is $34.42 and its 200-day moving average is $27.83. Quidel Corporation has a 1-year low of $18.25 and a 1-year high of $45.55.
Quidel Corporation (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.18). The business had revenue of $38.30 million for the quarter, compared to analyst estimates of $41.91 million. Quidel Corporation had a negative net margin of 0.03% and a negative return on equity of 0.03%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) earnings per share. Analysts forecast that Quidel Corporation will post $0.29 EPS for the current year.
QDEL has been the subject of a number of analyst reports. William Blair raised shares of Quidel Corporation from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 18th. Zacks Investment Research lowered shares of Quidel Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. BidaskClub lowered shares of Quidel Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Barclays PLC lifted their target price on shares of Quidel Corporation from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. reaffirmed a “buy” rating and issued a $47.00 target price (up from $41.00) on shares of Quidel Corporation in a research note on Tuesday, September 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $44.00.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Quidel Corporation by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,195,101 shares of the company’s stock valued at $59,575,000 after acquiring an additional 68,549 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Quidel Corporation by 8.1% in the 2nd quarter. Macquarie Group Ltd. now owns 1,292,492 shares of the company’s stock valued at $35,078,000 after purchasing an additional 96,565 shares during the period. Fred Alger Management Inc. increased its holdings in shares of Quidel Corporation by 0.4% in the 2nd quarter. Fred Alger Management Inc. now owns 672,880 shares of the company’s stock valued at $18,262,000 after purchasing an additional 2,757 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Quidel Corporation by 27.6% in the 2nd quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock valued at $16,623,000 after purchasing an additional 132,587 shares during the period. Finally, State Street Corp lifted its position in shares of Quidel Corporation by 8.6% in the second quarter. State Street Corp now owns 582,785 shares of the company’s stock worth $15,819,000 after purchasing an additional 46,096 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.
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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