Quidel Corporation (QDEL) Announces Earnings Results
Quidel Corporation (NASDAQ:QDEL) posted its quarterly earnings results on Wednesday. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.21), Bloomberg Earnings reports. The company had revenue of $50.89 million for the quarter, compared to analysts’ expectations of $50.47 million. Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS.
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In other news, CEO Douglas C. Bryant sold 12,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $42.29, for a total value of $507,480.00. Following the completion of the sale, the chief executive officer now directly owns 296,493 shares in the company, valued at $12,538,688.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas C. Bryant sold 36,000 shares of the business’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 completion of the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at $10,211,218.92. The disclosure for this sale can be found here. Insiders sold 120,000 shares of company stock valued at $4,806,240 over the last three months. Insiders own 22.00% of the company’s stock.
A number of equities analysts have weighed in on QDEL shares. 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. Zacks Investment Research raised shares of Quidel Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, July 18th. Canaccord Genuity raised shares of Quidel Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 18th. Finally, William Blair raised shares of Quidel Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $48.00.
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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