Quidel Corporation (QDEL) PT Raised to $49.00 at Barclays PLC
Quidel Corporation (NASDAQ:QDEL) had its price target hoisted by investment analysts at Barclays PLC from $45.00 to $49.00 in a report issued on Thursday. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s target price would suggest a potential upside of 25.48% from the stock’s previous close.
A number of other research analysts also recently commented on QDEL. Zacks Investment Research raised shares of Quidel Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, July 18th. TheStreet downgraded shares of Quidel Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, July 26th. William Blair raised shares of Quidel Corporation from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 18th. Canaccord Genuity raised shares of Quidel Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 18th. Finally, BidaskClub downgraded shares of Quidel Corporation from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $48.80.
Quidel Corporation (QDEL) traded up $0.45 during trading on Thursday, reaching $39.05. 950,431 shares of the company’s stock were exchanged, compared to its average volume of 350,298. Quidel Corporation has a 12 month low of $18.25 and a 12 month high of $45.55. The company has a current ratio of 7.19, a quick ratio of 6.46 and a debt-to-equity ratio of 0.71.
Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.21). Quidel Corporation had a negative net margin of 2.33% and a negative return on equity of 2.38%. The firm had revenue of $50.89 million during the quarter, compared to analyst estimates of $50.47 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. Quidel Corporation’s revenue for the quarter was up 3.1% compared to the same quarter last year. equities analysts expect that Quidel Corporation will post 0.6 earnings per share for the current fiscal year.
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In other Quidel Corporation news, CEO Douglas C. Bryant sold 36,000 shares of Quidel Corporation stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $34.44, for a total transaction of $1,239,840.00. Following the completion of the transaction, the chief executive officer now owns 296,493 shares in the company, valued at $10,211,218.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas C. Bryant sold 12,000 shares of Quidel Corporation stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $42.29, for a total transaction of $507,480.00. Following the transaction, the chief executive officer now owns 296,493 shares of the company’s stock, valued at approximately $12,538,688.97. The disclosure for this sale can be found here. Insiders sold a total of 120,000 shares of company stock valued at $4,806,240 in the last 90 days. Company insiders own 22.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in QDEL. Acrospire Investment Management LLC raised its position in Quidel Corporation by 42.2% during the second quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock worth $100,000 after acquiring an additional 1,091 shares during the last quarter. Legal & General Group Plc grew its position in Quidel Corporation by 4.6% in the 1st quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after buying an additional 306 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Quidel Corporation in the 2nd quarter valued at about $209,000. First Quadrant L P CA bought a new position in Quidel Corporation in the 2nd quarter valued at about $217,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Quidel Corporation in the 2nd quarter valued at about $364,000. Institutional investors own 86.92% of the company’s stock.
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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