Quidel Corporation (QDEL) Holdings Increased by Fred Alger Management Inc.
Fred Alger Management Inc. raised its position in shares of Quidel Corporation (NASDAQ:QDEL) by 0.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 672,880 shares of the company’s stock after purchasing an additional 2,757 shares during the quarter. Fred Alger Management Inc. owned approximately 2.01% of Quidel Corporation worth $18,262,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 purchasing an additional 68,549 shares during the period. Macquarie Group Ltd. increased its position in Quidel Corporation by 23.6% during the 1st quarter. Macquarie Group Ltd. now owns 1,195,927 shares of the company’s stock valued at $27,076,000 after purchasing an additional 228,515 shares during the period. Renaissance Technologies LLC increased its position in Quidel Corporation by 27.6% during 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. Point72 Asset Management L.P. acquired a new stake in Quidel Corporation during the 1st quarter valued at approximately $11,266,000. Finally, Northern Trust Corp increased its position in Quidel Corporation by 6.9% during the 2nd quarter. Northern Trust Corp now owns 377,707 shares of the company’s stock valued at $10,250,000 after purchasing an additional 24,453 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $33.83, for a total transaction of $1,217,880.00. Following the completion of the transaction, the chief executive officer now owns 296,493 shares in the company, valued at $10,030,358.19. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael Donald Jr. Abney sold 1,173 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $33.83, for a total value of $39,682.59. The disclosure for this sale can be found here. Insiders sold 227,388 shares of company stock valued at $8,274,312 in the last quarter. Corporate insiders own 22.00% of the company’s stock.
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Quidel Corporation (NASDAQ QDEL) traded up 0.35% during mid-day trading on Thursday, reaching $43.30. 24,493 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $37.81 and a 200-day moving average of $29.52. The stock’s market cap is $1.45 billion. Quidel Corporation has a one year low of $18.25 and a one year high of $45.55.
Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, July 26th. The company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.18). Quidel Corporation had a negative net margin of 0.03% and a negative return on equity of 0.03%. The company had revenue of $38.30 million during the quarter, compared to the consensus estimate of $41.91 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Quidel Corporation will post $0.29 earnings per share for the current year.
A number of research firms have weighed in on QDEL. Zacks Investment Research raised shares of Quidel Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Canaccord Genuity reissued a “buy” rating and set a $48.00 target price (up previously from $42.00) on shares of Quidel Corporation in a research report on Tuesday, September 19th. Barclays PLC reissued a “buy” rating and set a $45.00 target price (up previously from $39.00) on shares of Quidel Corporation in a research report on Tuesday, September 19th. Raymond James Financial, Inc. reissued a “buy” rating and set a $47.00 target price (up previously from $41.00) on shares of Quidel Corporation in a research report on Tuesday, September 19th. Finally, Piper Jaffray Companies raised shares of Quidel Corporation from a “neutral” rating to an “overweight” rating and increased their target price for the company from $35.00 to $50.00 in a research report on Tuesday, September 19th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Quidel Corporation currently has an average rating of “Buy” and an average price target of $44.00.
Quidel Corporation 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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