Insider Selling: Quidel Corporation (QDEL) Director Sells $481,541.48 in Stock
Quidel Corporation (NASDAQ:QDEL) Director Thomas D. Brown sold 12,154 shares of Quidel stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $39.62, for a total value of $481,541.48. Following the completion of the transaction, the director now owns 57,179 shares in the company, valued at $2,265,431.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Quidel Corporation (NASDAQ QDEL) opened at $40.40 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.68 and a current ratio of 6.28. Quidel Corporation has a 12-month low of $18.25 and a 12-month high of $45.55.
Quidel (NASDAQ:QDEL) last issued its earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). The business had revenue of $50.89 million during the quarter, compared to analyst estimates of $50.47 million. Quidel had a negative return on equity of 2.36% and a negative net margin of 2.33%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. research analysts anticipate that Quidel Corporation will post 0.6 EPS for the current fiscal year.
A number of equities analysts recently issued reports on the company. Piper Jaffray Companies restated a “buy” rating and issued a $50.00 target price on shares of Quidel in a report on Friday, November 3rd. Canaccord Genuity restated a “buy” rating and issued a $48.00 target price on shares of Quidel in a report on Wednesday, October 25th. Barclays restated a “buy” rating and issued a $45.00 target price (up from $39.00) on shares of Quidel in a report on Tuesday, September 19th. BidaskClub upgraded Quidel from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Zacks Investment Research raised Quidel from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, October 13th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $48.80.
Several institutional investors have recently modified their holdings of the company. Wolverine Trading LLC acquired a new stake in shares of Quidel in the third quarter worth $406,000. California Public Employees Retirement System boosted its position in shares of Quidel by 3.8% in the third quarter. California Public Employees Retirement System now owns 58,103 shares of the company’s stock worth $2,548,000 after buying an additional 2,103 shares during the period. Davidson Kempner Capital Management LP acquired a new stake in shares of Quidel in the third quarter worth $6,974,000. Jane Street Group LLC acquired a new stake in Quidel during the third quarter valued at $205,000. Finally, Omni Partners LLP acquired a new stake in Quidel during the third quarter valued at $6,412,000. 92.67% of the stock is owned by institutional investors and hedge funds.
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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