-$0.03 EPS Expected for Quidel Corporation (QDEL) This Quarter
Wall Street analysts expect Quidel Corporation (NASDAQ:QDEL) to post earnings per share (EPS) of ($0.03) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Quidel Corporation’s earnings. The lowest EPS estimate is ($0.06) and the highest is $0.00. Quidel Corporation reported earnings per share of ($0.02) during the same quarter last year, which would suggest a negative year over year growth rate of 50%. The company is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Quidel Corporation will report full-year earnings of $0.28 per share for the current fiscal year, with EPS estimates ranging from $0.26 to $0.29. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.68 per share, with EPS estimates ranging from $0.43 to $0.82. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Quidel Corporation.
Quidel Corporation (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, July 26th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.18. The firm had revenue of $38.30 million for the quarter, compared to analysts’ expectations of $41.91 million. Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) earnings per share.
A number of research analysts recently commented on QDEL shares. William Blair upgraded Quidel Corporation from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 18th. Zacks Investment Research cut Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. BidaskClub cut Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Barclays PLC upped their price target on Quidel Corporation from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Finally, Canaccord Genuity upgraded Quidel Corporation from a “hold” rating to a “buy” rating 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 assigned a buy rating to the company’s stock. Quidel Corporation presently has an average rating of “Hold” and a consensus target price of $31.40.
Quidel Corporation (QDEL) traded down 0.98% on Friday, reaching $36.24. The company’s stock had a trading volume of 402,939 shares. The firm’s market capitalization is $1.21 billion. Quidel Corporation has a 52 week low of $18.25 and a 52 week high of $38.92. The company has a 50 day moving average of $33.98 and a 200 day moving average of $26.91.
In other Quidel Corporation news, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $34.44, for a total transaction of $1,239,840.00. Following the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at $10,211,218.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Randall J. Steward sold 94,215 shares of the company’s stock in a transaction 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 $2,724,029.63. The disclosure for this sale can be found here. Insiders have sold 203,388 shares of company stock worth $6,691,992 over the last 90 days. 22.00% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. increased its position in shares of Quidel Corporation by 0.8% during the first quarter. First Mercantile Trust Co. now owns 5,280 shares of the company’s stock worth $120,000 after acquiring an additional 40 shares during the period. Legal & General Group Plc increased its position in shares of Quidel Corporation by 4.0% during the second quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock worth $197,000 after acquiring an additional 278 shares during the period. Teachers Advisors LLC increased its position in shares of Quidel Corporation by 0.7% during the fourth quarter. Teachers Advisors LLC now owns 47,367 shares of the company’s stock worth $1,015,000 after acquiring an additional 333 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Quidel Corporation by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 21,831 shares of the company’s stock worth $593,000 after acquiring an additional 333 shares during the period. Finally, AHL Partners LLP increased its position in shares of Quidel Corporation by 4.0% during the second quarter. AHL Partners LLP now owns 18,666 shares of the company’s stock worth $507,000 after acquiring an additional 718 shares during the period. Institutional investors own 87.17% of the company’s stock.
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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