Quidel Corporation (NASDAQ:QDEL) CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $33.83, for a total transaction of $1,217,880.00. Following the completion of the sale, the chief executive officer now directly owns 296,493 shares in the company, valued at $10,030,358.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Quidel Corporation (QDEL) opened at 32.61 on Friday. The stock’s market capitalization is $1.09 billion. The firm’s 50 day moving average is $32.13 and its 200 day moving average is $25.45. Quidel Corporation has a 1-year low of $18.25 and a 1-year high of $38.92.
Quidel Corporation (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, July 26th. The company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.18. The company had revenue of $38.30 million for the quarter, compared to analyst estimates of $41.91 million. Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted ($0.11) EPS. On average, equities research analysts anticipate that Quidel Corporation will post $0.28 earnings per share for the current year.
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A number of equities research analysts recently weighed in on QDEL shares. Canaccord Genuity reaffirmed a “hold” rating and issued a $24.50 target price (up from $24.00) on shares of Quidel Corporation in a research note on Tuesday, April 25th. Barclays PLC raised their target price on shares of Quidel Corporation from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. TheStreet raised shares of Quidel Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, July 6th. BidaskClub downgraded shares of Quidel Corporation from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, Zacks Investment Research raised shares of Quidel Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Quidel Corporation currently has a consensus rating of “Hold” and a consensus target price of $31.40.
A number of institutional investors have recently added to or reduced their stakes in the company. 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 period. 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 period. 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 period. 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 currently owned by institutional investors.
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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