Quidel Corporation (NASDAQ:QDEL) Downgraded to “C” at TheStreet
Several other research analysts have also recently issued reports on the stock. Raymond James Financial, Inc. increased their target price on shares of Quidel Corporation from $36.00 to $41.00 and gave the stock an outperform rating in a report on Thursday. Barclays PLC increased their target price on shares of Quidel Corporation from $36.00 to $39.00 and gave the stock an overweight rating in a report on Thursday. Zacks Investment Research cut shares of Quidel Corporation from a buy rating to a hold rating in a report on Friday, July 21st. William Blair upgraded shares of Quidel Corporation from a market perform rating to an outperform rating in a report on Tuesday, July 18th. Finally, Canaccord Genuity upgraded shares of Quidel Corporation from a hold rating to a buy rating in a report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Quidel Corporation has a consensus rating of Buy and an average target price of $31.40.
Quidel Corporation (NASDAQ:QDEL) opened at 32.85 on Wednesday. The company’s 50-day moving average is $29.52 and its 200-day moving average is $24.10. The stock’s market capitalization is $1.09 billion. Quidel Corporation has a 12 month low of $18.25 and a 12 month high of $38.92.
Quidel Corporation (NASDAQ:QDEL) last issued its earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.18. Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The business had revenue of $38.30 million for the quarter, compared to the consensus estimate of $41.91 million. During the same quarter in the previous year, the company earned ($0.11) earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. Equities research analysts forecast that Quidel Corporation will post $0.28 EPS for the current year.
In other Quidel Corporation news, SVP Robert Joseph Bujarski sold 33,225 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $24.20, for a total transaction of $804,045.00. Following the completion of the sale, the senior vice president now directly owns 50,984 shares of the company’s stock, valued at $1,233,812.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $24.98, for a total transaction of $899,280.00. Following the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at $7,406,395.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,450 shares of company stock valued at $4,335,196. Insiders own 22.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in QDEL. Norges Bank purchased a new stake in Quidel Corporation during the fourth quarter valued at approximately $15,459,000. Point72 Asset Management L.P. purchased a new stake in Quidel Corporation during the first quarter valued at approximately $11,266,000. Macquarie Group Ltd. raised its stake in Quidel Corporation by 23.6% in the first quarter. Macquarie Group Ltd. now owns 1,195,927 shares of the company’s stock valued at $27,076,000 after buying an additional 228,515 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Quidel Corporation during the second quarter valued at approximately $3,250,000. Finally, Spark Investment Management LLC raised its stake in Quidel Corporation by 529.2% in the second quarter. Spark Investment Management LLC now owns 120,800 shares of the company’s stock valued at $3,278,000 after buying an additional 101,600 shares during the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.
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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