Zacks: Brokerages Expect Quidel Corporation (QDEL) to Announce -$0.17 Earnings Per Share
Wall Street brokerages expect Quidel Corporation (NASDAQ:QDEL) to report earnings per share of ($0.17) for the current quarter, according to Zacks. Two analysts have made estimates for Quidel Corporation’s earnings. The highest EPS estimate is ($0.13) and the lowest is ($0.20). Quidel Corporation posted earnings of ($0.24) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.2%. The business is expected to announce its next earnings report on Wednesday, July 26th.
On average, analysts expect that Quidel Corporation will report full year earnings of $0.46 per share for the current fiscal year, with EPS estimates ranging from $0.45 to $0.47. For the next year, analysts expect that the firm will report earnings of $0.41 per share, with EPS estimates ranging from $0.39 to $0.44. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Quidel Corporation.
Quidel Corporation (NASDAQ:QDEL) last released its quarterly earnings data on Monday, April 24th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.30. Quidel Corporation had a return on equity of 1.94% and a net margin of 1.83%. The business had revenue of $73.70 million for the quarter, compared to the consensus estimate of $61.85 million. During the same quarter in the previous year, the company posted $0.02 EPS. The company’s revenue was up 46.5% compared to the same quarter last year.
A number of analysts recently commented on the company. TheStreet raised Quidel Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, July 6th. Canaccord Genuity reaffirmed a “hold” rating and issued a $24.50 price target (up previously from $24.00) on shares of Quidel Corporation in a research note on Tuesday, April 25th. Zacks Investment Research lowered Quidel Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Finally, Barclays PLC raised their price target on Quidel Corporation from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Quidel Corporation currently has a consensus rating of “Hold” and an average price target of $24.50.
In other Quidel Corporation news, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $27.30, for a total value of $982,800.00. Following the completion of the transaction, the chief executive officer now owns 296,493 shares in the company, valued at $8,094,258.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Robert Joseph Bujarski sold 43,225 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $24.27, for a total value of $1,049,070.75. Following the completion of the transaction, the senior vice president now owns 50,984 shares of the company’s stock, valued at approximately $1,237,381.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,450 shares of company stock valued at $5,204,956. 22.00% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. First Mercantile Trust Co. increased 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 increased 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. Teachers Advisors LLC increased its position in Quidel Corporation by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 47,367 shares of the company’s stock worth $1,015,000 after buying an additional 333 shares during the period. American International Group Inc. increased its position in Quidel Corporation by 7.1% in the first quarter. American International Group Inc. now owns 16,546 shares of the company’s stock worth $375,000 after buying an additional 1,099 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Quidel Corporation by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 120,582 shares of the company’s stock worth $2,730,000 after buying an additional 6,480 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.
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Quidel Corporation (QDEL) traded up 0.40% during trading on Tuesday, hitting $27.52. The stock had a trading volume of 101,024 shares. The company’s 50 day moving average is $25.53 and its 200-day moving average is $22.56. The company has a market cap of $913.80 million, a PE ratio of 229.33 and a beta of 1.25. Quidel Corporation has a 12 month low of $18.25 and a 12 month high of $27.94.
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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