Vanguard Group Inc. Buys 87,995 Shares of Quidel Corporation (NASDAQ:QDEL)
Vanguard Group Inc. increased its position in shares of Quidel Corporation (NASDAQ:QDEL) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,126,552 shares of the company’s stock after buying an additional 87,995 shares during the period. Vanguard Group Inc. owned about 0.06% of Quidel Corporation worth $48,145,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QDEL. First Mercantile Trust Co. raised its position in 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 last quarter. Legal & General Group Plc raised its position in Quidel Corporation by 4.6% in the first quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock worth $157,000 after buying an additional 306 shares during the last quarter. Teachers Advisors LLC raised its position in 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 last quarter. American International Group Inc. raised its position in Quidel Corporation by 7.1% in the first quarter. American International Group Inc. now owns 16,546 shares of the company’s stock worth $375,000 after buying an additional 1,099 shares during the last quarter. Finally, Trellus Management Company LLC bought a new position in Quidel Corporation during the first quarter worth about $262,000. 89.34% of the stock is currently owned by institutional investors and hedge funds.
Quidel Corporation (NASDAQ QDEL) traded down 0.1405% during mid-day trading on Friday, hitting $32.5542. The company had a trading volume of 52,267 shares. Quidel Corporation has a 52-week low of $18.25 and a 52-week high of $38.92. The firm’s market cap is $1.09 billion. The stock’s 50 day moving average price is $31.16 and its 200 day moving average price is $24.86.
Quidel Corporation (NASDAQ:QDEL) last announced 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 return on equity of 0.03% and a negative net margin of 0.03%. The company had revenue of $38.30 million for the quarter, compared to analyst estimates of $41.91 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Quidel Corporation will post $0.28 EPS for the current fiscal year.
A number of research firms have recently issued reports on QDEL. TheStreet raised Quidel Corporation from a “c+” rating to a “b-” rating in a report on Thursday, July 6th. Canaccord Genuity reissued a “hold” rating and issued a $25.00 target price (up previously from $24.50) on shares of Quidel Corporation in a report on Friday, May 19th. BidaskClub lowered Quidel Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Barclays PLC boosted their target price on Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research raised Quidel Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $31.40.
In related 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 value of $298,800.00. Following the sale, the chief executive officer now directly owns 296,493 shares in the company, valued at approximately $7,382,675.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Randall J. Steward sold 94,215 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $34.09, for a total value of $3,211,789.35. Following the completion of the sale, the chief financial officer now owns 79,907 shares in the company, valued at $2,724,029.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 227,388 shares of company stock worth $6,951,432. 22.00% of the stock is owned by insiders.
Quidel Corporation Company Profile
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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