Canaccord Genuity upgraded shares of Quidel Corporation (NASDAQ:QDEL) from a hold rating to a buy rating in a report released on Tuesday, July 18th, Marketbeat.com reports.
Several other equities research analysts have also issued reports on QDEL. Zacks Investment Research lowered Quidel Corporation from a strong-buy rating to a hold rating in a research report on Wednesday, April 12th. TheStreet raised Quidel Corporation from a d+ rating to a c- rating in a research report on Tuesday, April 18th. Barclays PLC raised their target price on Quidel Corporation from $26.00 to $27.00 and gave the company an overweight rating in a research report on Wednesday, April 26th. Finally, BidaskClub lowered Quidel Corporation from a strong-buy rating to a buy rating in a research report on Sunday, July 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $31.40.
Quidel Corporation (NASDAQ QDEL) traded down 0.75% during trading on Tuesday, hitting $33.15. 379,131 shares of the company’s stock traded hands. Quidel Corporation has a 52-week low of $18.25 and a 52-week high of $38.92. The company’s 50 day moving average price is $31.52 and its 200 day moving average price is $25.14. The company’s market cap is $1.11 billion.
Quidel Corporation (NASDAQ:QDEL) last announced its earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the 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 business had revenue of $38.30 million for the quarter, compared to analysts’ expectations of $41.91 million. During the same period in the prior year, the business earned ($0.11) earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts expect that Quidel Corporation will post $0.28 earnings per share for the current year.
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In related news, CEO Douglas C. Bryant sold 12,000 shares of Quidel Corporation stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $24.90, for a total value of $298,800.00. Following the completion of the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at approximately $7,382,675.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael Donald Jr. Abney sold 1,173 shares of Quidel Corporation stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $33.83, for a total value of $39,682.59. The disclosure for this sale can be found here. In the last three months, insiders sold 227,388 shares of company stock valued at $6,951,432. 22.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of QDEL. Acrospire Investment Management LLC raised its position in Quidel Corporation by 42.2% in the second quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock worth $100,000 after buying an additional 1,091 shares during the last quarter. 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. Russell Investments Group Ltd. bought a new position in Quidel Corporation during the second quarter worth $209,000. Finally, First Quadrant L P CA bought a new position in Quidel Corporation during the second quarter worth $217,000. 89.66% of the stock is owned by institutional investors and hedge funds.
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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