Zacks Investment Research lowered shares of Quidel (NASDAQ:QDEL) from a strong-buy rating to a hold rating in a research report released on Thursday.
According to Zacks, “Quidel Corp. discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women’s health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. “
QDEL has been the subject of a number of other research reports. Craig Hallum began coverage on shares of Quidel in a research report on Monday, March 26th. They set a buy rating and a $62.00 price objective for the company. Raymond James raised shares of Quidel from an outperform rating to a strong-buy rating and cut their price objective for the company from $55.00 to $47.00 in a research report on Thursday, March 8th. ValuEngine raised shares of Quidel from a hold rating to a buy rating in a research report on Wednesday, May 2nd. William Blair reaffirmed a buy rating on shares of Quidel in a research report on Friday, April 13th. Finally, TheStreet raised shares of Quidel from a c rating to a b rating in a research report on Tuesday, May 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and four have assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $59.29.
Quidel (NASDAQ:QDEL) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.28. The business had revenue of $169.10 million during the quarter, compared to analyst estimates of $151.50 million. Quidel had a net margin of 3.08% and a return on equity of 12.54%. The firm’s revenue for the quarter was up 129.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. equities analysts anticipate that Quidel will post 2.33 EPS for the current year.
In related news, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $56.09, for a total value of $2,019,240.00. Following the completion of the transaction, the chief executive officer now owns 306,313 shares of the company’s stock, valued at $17,181,096.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $44.63, for a total transaction of $535,560.00. Following the completion of the transaction, the chief executive officer now directly owns 302,843 shares of the company’s stock, valued at approximately $13,515,883.09. The disclosure for this sale can be found here. Insiders sold 144,000 shares of company stock valued at $7,299,360 in the last three months. Company insiders own 16.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Cornerstone Capital Management Holdings LLC. acquired a new position in Quidel in the fourth quarter worth about $156,000. Mackay Shields LLC acquired a new position in Quidel in the first quarter worth about $202,000. Xact Kapitalforvaltning AB acquired a new position in Quidel in the first quarter worth about $241,000. Teacher Retirement System of Texas acquired a new position in Quidel in the fourth quarter worth about $421,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Quidel in the first quarter worth about $590,000. 87.76% of the stock is owned by hedge funds and other institutional investors.
Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications in infectious diseases, cardiology, thyroid, women's and general health, eye health, gastrointestinal diseases, and toxicology. The company offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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