Quidel Corporation (QDEL) Given Average Recommendation of “Buy” by Brokerages

Quidel Corporation (NASDAQ:QDEL) has been assigned an average rating of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $48.50.

Several research firms recently issued reports on QDEL. BidaskClub upgraded shares of Quidel from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research cut shares of Quidel from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Piper Jaffray Companies reiterated a “buy” rating and issued a $50.00 target price on shares of Quidel in a research note on Friday, November 3rd. Barclays boosted their target price on shares of Quidel from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $48.00 target price on shares of Quidel in a research note on Wednesday, October 25th.

In related news, CEO Douglas C. Bryant sold 12,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $42.86, for a total value of $514,320.00. Following the completion of the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at approximately $12,707,689.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $37.36, for a total transaction of $1,344,960.00. Following the completion of the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at approximately $11,076,978.48. The disclosure for this sale can be found here. In the last three months, insiders sold 147,530 shares of company stock valued at $5,960,736. 22.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wolverine Trading LLC purchased a new stake in shares of Quidel during the third quarter worth $406,000. California Public Employees Retirement System grew its holdings in shares of Quidel by 3.8% during the third quarter. California Public Employees Retirement System now owns 58,103 shares of the company’s stock worth $2,548,000 after buying an additional 2,103 shares in the last quarter. Davidson Kempner Capital Management LP purchased a new stake in shares of Quidel during the third quarter worth $6,974,000. Jane Street Group LLC purchased a new stake in shares of Quidel during the third quarter worth $205,000. Finally, Omni Partners LLP purchased a new stake in shares of Quidel during the third quarter worth $6,412,000. 92.82% of the stock is owned by institutional investors.

Quidel (NASDAQ:QDEL) opened at $39.15 on Monday. The company has a current ratio of 6.28, a quick ratio of 5.68 and a debt-to-equity ratio of 0.70. Quidel has a 12 month low of $18.25 and a 12 month high of $45.55.

Quidel (NASDAQ:QDEL) last posted its earnings results on Wednesday, November 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.21). Quidel had a negative net margin of 2.33% and a negative return on equity of 2.36%. The firm had revenue of $50.89 million during the quarter, compared to analyst estimates of $50.47 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. analysts forecast that Quidel will post 0.6 EPS for the current fiscal year.

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About Quidel

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.

Analyst Recommendations for Quidel (NASDAQ:QDEL)

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