Sei Investments Co. Has $1,099,000 Position in Quidel Corporation (QDEL)
Sei Investments Co. continued to hold its stake in shares of Quidel Corporation (NASDAQ:QDEL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,505 shares of the company’s stock at the end of the second quarter. Sei Investments Co. owned 0.12% of Quidel Corporation worth $1,099,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Spark Investment Management LLC boosted its stake in shares of Quidel Corporation by 529.2% in the second quarter. Spark Investment Management LLC now owns 120,800 shares of the company’s stock valued at $3,278,000 after buying an additional 101,600 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Quidel Corporation during the second quarter valued at about $386,000. Boston Advisors LLC bought a new stake in shares of Quidel Corporation during the second quarter valued at about $521,000. Trellus Management Company LLC boosted its stake in shares of Quidel Corporation by 98.0% in the second quarter. Trellus Management Company LLC now owns 22,930 shares of the company’s stock valued at $622,000 after buying an additional 11,350 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Quidel Corporation during the second quarter valued at about $3,250,000. Institutional investors and hedge funds own 87.17% of the company’s stock.
Quidel Corporation (NASDAQ QDEL) opened at 34.60 on Thursday. Quidel Corporation has a 12-month low of $18.25 and a 12-month high of $38.92. The company has a 50-day moving average price of $32.85 and a 200 day moving average price of $25.95. The stock’s market cap is $1.16 billion.
Quidel Corporation (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned ($0.11) earnings per share. Quidel Corporation’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Quidel Corporation will post $0.28 EPS for the current year.
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Several brokerages have recently issued reports on QDEL. BidaskClub cut Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research cut Quidel Corporation from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 29th. TheStreet cut Quidel Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, July 26th. Raymond James Financial, Inc. increased their price objective on Quidel Corporation from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, Barclays PLC increased their price objective on Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Quidel Corporation has an average rating of “Hold” and an average price target of $31.40.
In other news, SVP Michael Donald Jr. Abney sold 1,173 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $33.83, for a total transaction of $39,682.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Randall J. Steward sold 94,215 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $34.09, for a total transaction of $3,211,789.35. Following the transaction, the chief financial officer now directly owns 79,907 shares of the company’s stock, valued at $2,724,029.63. The disclosure for this sale can be found here. Insiders have sold a total of 167,388 shares of company stock valued at $5,452,152 over the last ninety days. 22.00% of the stock is owned by insiders.
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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