Quidel (QDEL) Given “Buy” Rating at Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of Quidel (NASDAQ:QDEL) in a report issued on Thursday. They currently have a $50.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity reissued a buy rating and issued a $48.00 price target (up previously from $42.00) on shares of Quidel in a research note on Tuesday, September 19th. Barclays reissued a buy rating and issued a $45.00 price target (up previously from $39.00) on shares of Quidel in a research note on Tuesday, September 19th. Raymond James Financial reissued a buy rating and issued a $47.00 price target (up previously from $41.00) on shares of Quidel in a research note on Tuesday, September 19th. 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 research note on Friday, October 13th. Finally, BidaskClub raised Quidel from a sell rating to a hold rating in a research note on Saturday, December 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Quidel has an average rating of Buy and a consensus price target of $48.80.

Shares of Quidel (NASDAQ:QDEL) traded down $0.15 during midday trading on Thursday, hitting $40.00. The company had a trading volume of 659,524 shares, compared to its average volume of 299,870. Quidel has a 1-year low of $18.25 and a 1-year high of $45.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 6.28 and a quick ratio of 5.68.

Quidel (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) EPS 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 the consensus estimate of $50.47 million. Quidel had a negative net margin of 2.33% and a negative return on equity of 2.36%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. equities analysts forecast that Quidel will post 0.6 earnings per share for the current year.

In related news, CFO Randall J. Steward sold 36,383 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $40.09, for a total value of $1,458,594.47. Following the completion of the sale, the chief financial officer now directly owns 56,290 shares in the company, valued at approximately $2,256,666.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas C. Bryant sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $42.86, for a total value of $514,320.00. Following the completion of the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at $12,707,689.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 237,206 shares of company stock valued at $9,554,868. Corporate insiders own 22.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc lifted its holdings in Quidel by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock worth $197,000 after purchasing an additional 278 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Quidel by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,831 shares of the company’s stock worth $593,000 after purchasing an additional 333 shares during the last quarter. AHL Partners LLP lifted its holdings in shares of 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 buying an additional 718 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of 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 buying an additional 1,062 shares during the last quarter. Finally, Acrospire Investment Management LLC lifted its holdings in shares of 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 buying an additional 1,091 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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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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