Quidel Corporation (QDEL) Earns “Buy” Rating from Piper Jaffray Companies
Piper Jaffray Companies reiterated their buy rating on shares of Quidel Corporation (NASDAQ:QDEL) in a report issued on Friday morning. Piper Jaffray Companies currently has a $50.00 target price on the stock.
A number of other analysts have also recently commented on QDEL. TheStreet upgraded shares of Quidel Corporation from a c+ rating to a b- rating in a research note on Thursday, July 6th. BidaskClub cut shares of Quidel Corporation from a strong-buy rating to a buy rating in a research note on Sunday, July 16th. Zacks Investment Research upgraded shares of Quidel Corporation from a hold rating to a buy rating and set a $30.00 price target for the company in a research note on Tuesday, July 18th. Canaccord Genuity upgraded shares of Quidel Corporation from a hold rating to a buy rating in a research note on Tuesday, July 18th. Finally, William Blair upgraded shares of Quidel Corporation from a market perform rating to an outperform rating in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $48.80.
Shares of Quidel Corporation (QDEL) opened at $39.05 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 6.28 and a quick ratio of 5.68. Quidel Corporation has a 12 month low of $18.25 and a 12 month high of $45.55.
Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.21). The firm had revenue of $50.89 million during the quarter, compared to analyst estimates of $50.47 million. Quidel Corporation had a negative net margin of 2.33% and a negative return on equity of 2.36%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. analysts expect that Quidel Corporation will post 0.6 EPS for the current fiscal year.
In other news, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $42.91, for a total value of $1,544,760.00. Following the transaction, the chief executive officer now directly 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 the SEC website. Also, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $42.17, for a total transaction of $506,040.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at $12,503,109.81. The disclosure for this sale can be found here. Insiders sold 120,000 shares of company stock worth $4,806,240 over the last three months. Insiders own 22.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Chicago Equity Partners LLC bought a new position in Quidel Corporation during the second quarter worth about $5,062,000. Marshall Wace North America L.P. increased its position in Quidel Corporation by 370.1% during the second quarter. Marshall Wace North America L.P. now owns 171,800 shares of the company’s stock worth $4,639,000 after acquiring an additional 135,253 shares during the period. Renaissance Technologies LLC increased its position in Quidel Corporation by 27.6% during the second quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock worth $16,623,000 after acquiring an additional 132,587 shares during the period. Janus Henderson Group PLC bought a new position in Quidel Corporation during the second quarter worth about $3,536,000. Finally, Acadian Asset Management LLC bought a new position in Quidel Corporation during the second quarter worth about $3,250,000. 86.82% of the stock is currently owned by institutional investors.
Quidel Corporation Company Profile
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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