Raymond James Financial, Inc. Raises Quidel Corporation (QDEL) Price Target to $41.00
Quidel Corporation (NASDAQ:QDEL) had its price objective increased by Raymond James Financial, Inc. from $36.00 to $41.00 in a research report sent to investors on Thursday morning. Raymond James Financial, Inc. currently has an outperform rating on the stock.
Other equities research analysts have also issued reports about the company. BidaskClub lowered Quidel Corporation from a strong-buy rating to a buy rating in a research note on Sunday, July 16th. William Blair upgraded Quidel Corporation from a market perform rating to an outperform rating in a research note on Tuesday, July 18th. Barclays PLC increased their target price on Quidel Corporation from $26.00 to $27.00 and gave the company an overweight rating in a research note on Wednesday, April 26th. Canaccord Genuity reiterated a hold rating and issued a $24.50 target price (up previously from $24.00) on shares of Quidel Corporation in a research note on Tuesday, April 25th. Finally, Zacks Investment Research lowered Quidel Corporation from a buy rating to a hold rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Quidel Corporation presently has an average rating of Buy and an average target price of $31.40.
Shares of Quidel Corporation (QDEL) traded down 2.59% during mid-day trading on Thursday, hitting $32.00. The company’s stock had a trading volume of 140,274 shares. The company’s market cap is $1.07 billion. The stock has a 50-day moving average of $29.52 and a 200-day moving average of $24.10. Quidel Corporation has a 12-month low of $18.25 and a 12-month high of $38.92.
Quidel Corporation (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, July 26th. The company reported ($0.35) earnings per share (EPS) 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 analysts’ expectations of $41.91 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Quidel Corporation will post $0.28 EPS for the current year.
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In other Quidel Corporation news, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $24.90, for a total transaction of $298,800.00. Following the completion of the sale, the chief executive officer now owns 296,493 shares in the company, valued at approximately $7,382,675.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Robert Joseph Bujarski sold 43,225 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $24.27, for a total value of $1,049,070.75. Following the sale, the senior vice president now owns 50,984 shares of the company’s stock, valued at approximately $1,237,381.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,225 shares of company stock valued at $3,531,151. 22.00% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Quidel Corporation by 4.7% in the fourth quarter. State Street Corp now owns 519,030 shares of the company’s stock worth $11,117,000 after buying an additional 23,132 shares during the period. Norges Bank acquired a new stake in shares of Quidel Corporation during the fourth quarter worth $15,459,000. Teachers Advisors LLC raised its stake in shares of Quidel Corporation by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 47,367 shares of the company’s stock worth $1,015,000 after buying an additional 333 shares during the period. Macquarie Group Ltd. raised its stake in shares of Quidel Corporation by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 967,412 shares of the company’s stock worth $20,722,000 after buying an additional 67,663 shares during the period. Finally, First Mercantile Trust Co. raised its stake in shares of Quidel Corporation by 0.8% in the first quarter. First Mercantile Trust Co. now owns 5,280 shares of the company’s stock worth $120,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 89.75% of the company’s stock.
About Quidel Corporation
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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