Quidel (QDEL) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Quidel (NASDAQ:QDEL) from a sell rating to a hold rating in a report issued on Saturday morning.

Several other research firms have also recently commented on QDEL. Zacks Investment Research raised Quidel from a hold rating to a buy rating and set a $50.00 price target for the company in a report on Friday, October 13th. Canaccord Genuity reaffirmed a buy rating and issued a $48.00 price target on shares of Quidel in a report on Wednesday, October 25th. Barclays increased their price target on Quidel from $45.00 to $49.00 and gave the company an overweight rating in a report on Thursday, November 2nd. Raymond James Financial reaffirmed a buy rating and issued a $47.00 price target (up previously from $41.00) on shares of Quidel in a report on Tuesday, September 19th. Finally, Piper Jaffray Companies raised Quidel from a neutral rating to an overweight rating and increased their price target for the company from $35.00 to $50.00 in a report on Tuesday, September 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $48.80.

Shares of Quidel (NASDAQ QDEL) opened at $39.59 on Friday. Quidel has a fifty-two week low of $18.25 and a fifty-two week high of $45.55. The company has a current ratio of 6.28, a quick ratio of 5.68 and a debt-to-equity ratio of 0.70.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.21). Quidel had a negative net margin of 2.33% and a negative return on equity of 2.36%. The company had revenue of $50.89 million during the quarter, compared to analyst estimates of $50.47 million. During the same period in the prior year, the business posted $0.10 EPS. Quidel’s revenue for the quarter was up 3.1% compared to the same quarter last year. research analysts predict that Quidel will post 0.6 EPS for the current fiscal year.

In other Quidel news, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $36.72, for a total transaction of $440,640.00. Following the completion of the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at $10,887,222.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $42.91, for a total value of $1,544,760.00. Following the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at approximately $12,722,514.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,530 shares of company stock valued at $5,960,736. 22.00% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Legal & General Group Plc increased its stake in Quidel by 4.0% during the second quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock worth $197,000 after acquiring an additional 278 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Quidel by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 21,831 shares of the company’s stock worth $593,000 after acquiring an additional 333 shares during the last quarter. AHL Partners LLP increased its stake in Quidel by 4.0% during the second quarter. AHL Partners LLP now owns 18,666 shares of the company’s stock worth $507,000 after acquiring an additional 718 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Quidel by 1.1% during the second quarter. TIAA CREF Investment Management LLC now owns 99,227 shares of the company’s stock worth $2,693,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Acrospire Investment Management LLC increased its stake in Quidel by 42.2% during the second quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock worth $100,000 after acquiring an additional 1,091 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

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About Quidel

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.

Analyst Recommendations for Quidel (NASDAQ:QDEL)

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