Davidson Kempner Capital Management LP purchased a new stake in Quidel Corporation (NASDAQ:QDEL) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 159,045 shares of the company’s stock, valued at approximately $6,974,000. Davidson Kempner Capital Management LP owned approximately 0.47% of Quidel as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Acrospire Investment Management LLC boosted its holdings in Quidel by 42.2% in the second quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock valued at $100,000 after purchasing an additional 1,091 shares in the last quarter. Legal & General Group Plc boosted its holdings in Quidel by 4.6% in the first quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after purchasing an additional 306 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Quidel by 162.7% in the third quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock valued at $204,000 after purchasing an additional 2,875 shares in the last quarter. Jane Street Group LLC acquired a new position in Quidel in the third quarter valued at approximately $205,000. Finally, Russell Investments Group Ltd. acquired a new position in Quidel in the second quarter valued at approximately $209,000. 92.67% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Werner Kroll sold 7,565 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $39.50, for a total transaction of $298,817.50. Following the completion of the sale, the senior vice president now owns 10,261 shares in the company, valued at $405,309.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction that occurred 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 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. Insiders sold 184,465 shares of company stock valued at $7,434,756 over the last three months. Corporate insiders own 22.00% of the company’s stock.
Quidel (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). The firm had revenue of $50.89 million during the quarter, compared to analyst estimates of $50.47 million. Quidel had a negative net margin of 2.33% and a negative return on equity of 2.36%. Quidel’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. analysts anticipate that Quidel Corporation will post 0.6 EPS for the current fiscal year.
A number of equities analysts recently issued reports on the company. Zacks Investment Research downgraded Quidel from a “hold” rating to a “strong sell” rating in a report on Tuesday. Raymond James Financial reaffirmed a “buy” rating and issued a $47.00 price target (up from $41.00) on shares of Quidel in a report on Tuesday, September 19th. Piper Jaffray Companies raised Quidel from a “neutral” rating to an “overweight” rating and upped their price target for the company from $35.00 to $50.00 in a report on Tuesday, September 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $48.00 price target (up from $42.00) on shares of Quidel in a report on Tuesday, September 19th. Finally, Barclays reaffirmed a “buy” rating and issued a $45.00 price target (up from $39.00) on shares of Quidel in a report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $48.80.
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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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