Quidel (NASDAQ:QDEL) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report released on Friday.

QDEL has been the subject of several other research reports. TheStreet lowered Quidel from a “b” rating to a “c+” rating in a research note on Wednesday, August 8th. Canaccord Genuity upped their target price on Quidel from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Zacks Investment Research lowered Quidel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Barclays upped their target price on Quidel from $65.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, August 6th. Finally, ValuEngine lowered Quidel from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $70.14.

Shares of QDEL opened at $63.07 on Friday. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -901.00, a PEG ratio of 1.04 and a beta of 1.00. The company has a quick ratio of 0.71, a current ratio of 1.10 and a debt-to-equity ratio of 0.22. Quidel has a 1 year low of $33.01 and a 1 year high of $77.63.

Quidel (NASDAQ:QDEL) last issued its earnings results on Tuesday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.12. The business had revenue of $103.16 million during the quarter, compared to analyst estimates of $102.15 million. Quidel had a return on equity of 19.39% and a net margin of 4.63%. Sell-side analysts anticipate that Quidel will post 2.51 earnings per share for the current fiscal year.

In other Quidel news, CEO Douglas C. Bryant sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $65.84, for a total value of $790,080.00. Following the completion of the sale, the chief executive officer now owns 306,313 shares in the company, valued at $20,167,647.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles P. Slacik sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $68.28, for a total value of $68,280.00. Following the completion of the sale, the director now owns 7,820 shares of the company’s stock, valued at approximately $533,949.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,450 shares of company stock valued at $12,498,085. 16.70% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. United Services Automobile Association lifted its position in Quidel by 26.4% in the second quarter. United Services Automobile Association now owns 7,382 shares of the company’s stock valued at $491,000 after purchasing an additional 1,542 shares during the last quarter. Northern Trust Corp lifted its position in Quidel by 15.4% in the second quarter. Northern Trust Corp now owns 423,108 shares of the company’s stock valued at $28,136,000 after purchasing an additional 56,538 shares during the last quarter. Verition Fund Management LLC bought a new stake in Quidel in the second quarter valued at approximately $364,000. Putnam Investments LLC bought a new stake in Quidel in the second quarter valued at approximately $3,851,000. Finally, MetLife Investment Advisors LLC lifted its position in Quidel by 8.8% in the second quarter. MetLife Investment Advisors LLC now owns 15,132 shares of the company’s stock valued at $1,006,000 after purchasing an additional 1,229 shares during the last quarter. Hedge funds and other institutional investors own 88.44% of the company’s stock.

About Quidel

Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications in infectious diseases, cardiology, thyroid, women's and general health, eye health, gastrointestinal diseases, and toxicology. The company offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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Analyst Recommendations for Quidel (NASDAQ:QDEL)

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