Zacks: Brokerages Expect Quidel Corporation (QDEL) to Announce $0.39 Earnings Per Share
Brokerages expect Quidel Corporation (NASDAQ:QDEL) to report $0.39 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Quidel Corporation’s earnings. The highest EPS estimate is $0.62 and the lowest is $0.24. Quidel Corporation posted earnings of ($0.06) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 750%. The firm is scheduled to issue its next earnings report on Wednesday, February 14th.
On average, analysts expect that Quidel Corporation will report full-year earnings of $0.66 per share for the current financial year, with EPS estimates ranging from $0.15 to $1.06. For the next year, analysts expect that the business will post earnings of $2.05 per share, with EPS estimates ranging from $1.67 to $2.43. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Quidel Corporation.
Quidel Corporation (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.21). Quidel Corporation had a negative net margin of 2.33% and a negative return on equity of 2.38%. The firm had revenue of $50.89 million for the quarter, compared to analysts’ expectations of $50.47 million. During the same quarter in the previous year, the company earned $0.10 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year.
Several analysts have recently commented on QDEL shares. Zacks Investment Research upgraded shares of Quidel Corporation from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, July 18th. TheStreet downgraded shares of Quidel Corporation from a “b-” rating to a “c” rating in a report on Wednesday, July 26th. William Blair upgraded shares of Quidel Corporation from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 18th. Canaccord Genuity upgraded shares of Quidel Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 18th. Finally, BidaskClub downgraded shares of Quidel Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Quidel Corporation has a consensus rating of “Buy” and an average target price of $48.80.
Quidel Corporation (NASDAQ QDEL) traded down $1.39 on Friday, reaching $39.05. 950,431 shares of the company’s stock traded hands, compared to its average volume of 422,448. The company has a debt-to-equity ratio of 0.71, a quick ratio of 6.46 and a current ratio of 7.19. Quidel Corporation has a fifty-two week low of $18.25 and a fifty-two week high of $45.55.
In other Quidel Corporation news, CEO Douglas C. Bryant sold 12,000 shares of Quidel Corporation stock in a transaction on Monday, October 30th. The shares were sold at an average price of $41.15, for a total value of $493,800.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at approximately $12,200,686.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas C. Bryant sold 36,000 shares of Quidel Corporation stock in a transaction on Friday, September 29th. The stock was sold at an average price of $42.91, for a total transaction of $1,544,760.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at $12,722,514.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,000 shares of company stock worth $4,806,240. 22.00% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the business. Swiss National Bank grew its stake in shares of Quidel Corporation by 4.2% in the 3rd quarter. Swiss National Bank now owns 47,200 shares of the company’s stock worth $2,070,000 after buying an additional 1,900 shares in the last quarter. Smith Asset Management Group LP purchased a new position in shares of Quidel Corporation in the 3rd quarter worth $711,000. Harvest Management LLC purchased a new position in shares of Quidel Corporation in the 3rd quarter worth $702,000. Nationwide Fund Advisors boosted its stake in shares of Quidel Corporation by 5.0% during the 3rd quarter. Nationwide Fund Advisors now owns 226,223 shares of the company’s stock worth $9,922,000 after purchasing an additional 10,869 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Quidel Corporation during the 2nd quarter worth about $442,000. 86.92% of the stock is owned by institutional investors and hedge funds.
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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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