Quidel Corporation (QDEL) CEO Douglas C. Bryant Sells 12,000 Shares of Stock
Quidel Corporation (NASDAQ:QDEL) CEO Douglas C. Bryant sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $42.86, for a total value of $514,320.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at $12,707,689.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Quidel Corporation (QDEL) traded down 0.54% during trading on Friday, hitting $43.86. The stock had a trading volume of 941,941 shares. The firm has a 50 day moving average price of $34.42 and a 200-day moving average price of $27.83. Quidel Corporation has a 52 week low of $18.25 and a 52 week high of $45.55. The stock’s market capitalization is $1.47 billion.
Quidel Corporation (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, July 26th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.18). The business had revenue of $38.30 million during the quarter, compared to the consensus estimate of $41.91 million. Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned ($0.11) EPS. On average, equities research analysts forecast that Quidel Corporation will post $0.29 EPS for the current fiscal year.
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A number of equities analysts have recently weighed in on the company. Barclays PLC upped their target price on Quidel Corporation from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. BidaskClub lowered Quidel Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Piper Jaffray Companies raised Quidel Corporation from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $35.00 to $50.00 in a research report on Tuesday, September 19th. Zacks Investment Research raised Quidel Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $48.00 target price (up from $42.00) on shares of Quidel Corporation in a research report on Tuesday, September 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $44.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Quidel Corporation in the second quarter worth about $442,000. The Manufacturers Life Insurance Company boosted its stake in shares of Quidel Corporation by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 21,831 shares of the company’s stock worth $593,000 after acquiring an additional 333 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Quidel Corporation in the second quarter worth about $2,620,000. C M Bidwell & Associates Ltd. bought a new position in shares of Quidel Corporation in the second quarter worth about $364,000. Finally, State Street Corp boosted its stake 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 acquiring an additional 46,096 shares during the period. 87.17% of the stock is owned by hedge funds and other 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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