Quidel (NASDAQ:QDEL) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Quidel (NASDAQ:QDEL) from a hold rating to a sell rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Quidel Corp. discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women’s health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. “

Several other equities analysts have also recently commented on QDEL. JPMorgan Chase & Co. dropped their target price on shares of Quidel from $90.00 to $80.00 and set an underweight rating for the company in a research report on Friday, June 4th. Craig Hallum dropped their target price on shares of Quidel from $296.00 to $219.00 and set a buy rating for the company in a research report on Thursday, June 17th. Finally, Raymond James boosted their target price on shares of Quidel from $141.00 to $155.00 and gave the company an outperform rating in a research report on Friday, August 6th.

Shares of Quidel stock opened at $153.48 on Wednesday. Quidel has a twelve month low of $103.31 and a twelve month high of $288.70. The company has a 50-day simple moving average of $133.47 and a two-hundred day simple moving average of $126.56. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 0.81 and a beta of -0.07.

Quidel (NASDAQ:QDEL) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.42). Quidel had a return on equity of 73.85% and a net margin of 48.96%. The business had revenue of $176.61 million during the quarter, compared to analyst estimates of $173.29 million. On average, equities analysts forecast that Quidel will post 7.35 EPS for the current year.

In related news, Director Mary Lake Ph D. Polan sold 6,167 shares of Quidel stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $141.71, for a total transaction of $873,925.57. Following the sale, the director now directly owns 19,987 shares of the company’s stock, valued at approximately $2,832,357.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in QDEL. US Bancorp DE grew its holdings in shares of Quidel by 294.9% during the 1st quarter. US Bancorp DE now owns 1,465 shares of the company’s stock valued at $187,000 after purchasing an additional 1,094 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Quidel by 42.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 13,619 shares of the company’s stock worth $1,742,000 after acquiring an additional 4,070 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Quidel by 683.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 98,931 shares of the company’s stock worth $12,656,000 after acquiring an additional 86,300 shares during the last quarter. Papp L Roy & Associates bought a new stake in Quidel during the 1st quarter worth approximately $345,000. Finally, Alliancebernstein L.P. grew its holdings in Quidel by 1.4% during the 1st quarter. Alliancebernstein L.P. now owns 62,558 shares of the company’s stock worth $8,003,000 after acquiring an additional 875 shares during the last quarter. 90.31% of the stock is currently owned by institutional investors.

Quidel Company Profile

Quidel Corp. engages in the development, manufacture and market of rapid diagnostic testing solutions. Its portfolio includes rapid immunoassays, cardiac immunoassays, specialized diagnostic solutions and molecular diagnostic solutions. The firm products are directly sold to end users and distributors and for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, urgent care clinics, universities, retail clinics, pharmacies and wellness screening centers.

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