Quidel Corporation (QDEL) Receives Average Recommendation of “Hold” from Brokerages
Shares of Quidel Corporation (NASDAQ:QDEL) have received a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $34.00.
A number of research firms have recently weighed in on QDEL. Barclays PLC boosted their price objective on shares of Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. BidaskClub lowered shares of Quidel Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. boosted their price objective on shares of Quidel Corporation from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Canaccord Genuity reissued a “hold” rating and issued a $25.00 price objective (up previously from $24.50) on shares of Quidel Corporation in a research report on Friday, May 19th. Finally, Zacks Investment Research lowered shares of Quidel Corporation from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 29th.
Quidel Corporation (NASDAQ QDEL) opened at 32.64 on Friday. The stock’s market cap is $1.09 billion. The firm’s 50 day moving average price is $32.85 and its 200 day moving average price is $25.95. Quidel Corporation has a 12 month low of $18.25 and a 12 month high of $38.92.
Quidel Corporation (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, July 26th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.18. The firm had revenue of $38.30 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) EPS. On average, equities research analysts predict that Quidel Corporation will post $0.28 EPS for the current fiscal year.
In related news, CEO Douglas C. Bryant sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $25.10, for a total transaction of $301,200.00. Following the completion of the transaction, the chief executive officer now owns 296,493 shares of the company’s stock, valued at $7,441,974.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $24.98, for a total transaction of $899,280.00. Following the transaction, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at approximately $7,406,395.14. The disclosure for this sale can be found here. Insiders have sold 215,388 shares of company stock valued at $6,652,632 in the last ninety days. 22.00% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of Quidel Corporation by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 47,367 shares of the company’s stock valued at $1,015,000 after buying an additional 333 shares during the period. First Mercantile Trust Co. raised its stake in Quidel Corporation by 0.8% in the first quarter. First Mercantile Trust Co. now owns 5,280 shares of the company’s stock valued at $120,000 after buying an additional 40 shares during the last quarter. Trellus Management Company LLC acquired a new stake in Quidel Corporation during the first quarter valued at about $262,000. Investment Management of Virginia LLC raised its stake in Quidel Corporation by 5.9% in the first quarter. Investment Management of Virginia LLC now owns 419,878 shares of the company’s stock valued at $9,506,000 after buying an additional 23,390 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Quidel Corporation by 1,194.5% in the first quarter. Sei Investments Co. now owns 40,505 shares of the company’s stock valued at $917,000 after buying an additional 37,376 shares during the last quarter. 89.66% of the stock is owned by hedge funds and other 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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