Quidel Corporation (NASDAQ:QDEL) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $34.00.
Several equities analysts have recently weighed in on QDEL shares. TheStreet upgraded Quidel Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, July 6th. Canaccord Genuity upgraded Quidel Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Quidel Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, July 18th. BidaskClub downgraded Quidel Corporation from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, William Blair upgraded Quidel Corporation from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 18th.
In related news, CEO Douglas C. Bryant sold 12,000 shares of Quidel Corporation stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $24.90, for a total transaction of $298,800.00. Following the transaction, the chief executive officer now owns 296,493 shares in the company, valued at $7,382,675.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Randall J. Steward sold 94,215 shares of Quidel Corporation stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $34.09, for a total value of $3,211,789.35. Following the transaction, the chief financial officer now owns 79,907 shares in the company, valued at approximately $2,724,029.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 227,388 shares of company stock worth $6,951,432. 22.00% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Quidel Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 2,126,552 shares of the company’s stock valued at $48,145,000 after buying an additional 87,995 shares during the period. Macquarie Group Ltd. boosted its stake in Quidel Corporation by 23.6% in the first quarter. Macquarie Group Ltd. now owns 1,195,927 shares of the company’s stock valued at $27,076,000 after buying an additional 228,515 shares during the period. Norges Bank acquired a new stake in Quidel Corporation during the fourth quarter valued at about $15,459,000. State Street Corp boosted its stake in Quidel Corporation by 4.7% in the fourth quarter. State Street Corp now owns 519,030 shares of the company’s stock valued at $11,117,000 after buying an additional 23,132 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Quidel Corporation during the first quarter valued at about $11,266,000. 89.34% of the stock is owned by institutional investors.
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Quidel Corporation (NASDAQ:QDEL) opened at 32.60 on Tuesday. The company has a 50-day moving average price of $31.16 and a 200-day moving average price of $24.85. Quidel Corporation has a 12-month low of $18.25 and a 12-month high of $38.92. The stock’s market capitalization is $1.09 billion.
Quidel Corporation (NASDAQ:QDEL) last released its earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.17) by $0.18. The firm had revenue of $38.30 million during the quarter, compared to analysts’ expectations of $41.91 million. Quidel Corporation had a negative net margin of 0.03% and a negative return on equity of 0.03%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.11) EPS. Analysts expect that Quidel Corporation will post $0.28 earnings per share for the current fiscal year.
About Quidel Corporation
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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