Tandem Investment Advisors Inc. reduced its stake in Quidel Co. (NASDAQ:QDEL) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,365 shares of the company’s stock after selling 900 shares during the period. Tandem Investment Advisors Inc.’s holdings in Quidel were worth $744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cutler Group LP purchased a new stake in shares of Quidel during the fourth quarter valued at $43,000. Huntington National Bank bought a new position in Quidel in the first quarter valued at about $73,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Quidel by 16.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,353 shares of the company’s stock valued at $115,000 after acquiring an additional 333 shares during the period. Quantamental Technologies LLC bought a new position in Quidel in the fourth quarter valued at about $149,000. Finally, Paloma Partners Management Co bought a new position in Quidel in the fourth quarter valued at about $212,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

QDEL has been the topic of a number of recent research reports. Zacks Investment Research downgraded Quidel from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 25th. ValuEngine raised Quidel from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. BidaskClub raised Quidel from a “hold” rating to a “buy” rating in a report on Saturday, January 12th. Finally, Craig Hallum increased their target price on Quidel from $51.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, February 14th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.00.

In related news, CEO Douglas C. Bryant sold 25,250 shares of the stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $55.09, for a total transaction of $1,391,022.50. Following the completion of the sale, the chief executive officer now owns 319,563 shares in the company, valued at $17,604,725.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Edward Keith Russell sold 13,000 shares of Quidel stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $64.60, for a total value of $839,800.00. Following the sale, the vice president now directly owns 22,598 shares in the company, valued at approximately $1,459,830.80. The disclosure for this sale can be found here. Insiders sold 282,848 shares of company stock worth $18,490,522 in the last ninety days. Corporate insiders own 16.70% of the company’s stock.

Shares of NASDAQ QDEL traded down $0.21 during trading on Monday, hitting $63.73. The company had a trading volume of 609 shares, compared to its average volume of 189,735. The company has a quick ratio of 0.79, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. Quidel Co. has a 12 month low of $44.27 and a 12 month high of $77.63. The company has a market capitalization of $2.52 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 0.92 and a beta of 1.37.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, February 13th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.54 by $0.21. Quidel had a return on equity of 31.73% and a net margin of 14.20%. The firm had revenue of $132.59 million for the quarter, compared to the consensus estimate of $132.26 million. During the same quarter last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Research analysts anticipate that Quidel Co. will post 2.77 EPS for the current year.

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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, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

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