Wall Street brokerages expect Quidel Corporation (NASDAQ:QDEL) to report sales of $115.02 million for the current quarter, according to Zacks. Three analysts have made estimates for Quidel’s earnings. The highest sales estimate is $122.15 million and the lowest is $110.75 million. Quidel posted sales of $52.81 million during the same quarter last year, which would indicate a positive year over year growth rate of 117.8%. The company is expected to announce its next quarterly earnings results on Wednesday, February 14th.

On average, analysts expect that Quidel will report full-year sales of $115.02 million for the current financial year, with estimates ranging from $273.60 million to $285.91 million. For the next financial year, analysts forecast that the company will report sales of $488.11 million per share, with estimates ranging from $485.10 million to $490.63 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Quidel.

Quidel (NASDAQ:QDEL) last announced its earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $50.47 million. During the same quarter last year, the business earned $0.10 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year.

Several equities analysts have recently issued reports on QDEL shares. Canaccord Genuity reiterated a “buy” rating and issued a $48.00 price objective on shares of Quidel in a research note on Wednesday, October 25th. Zacks Investment Research raised Quidel from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday, October 13th. Barclays raised their target price on Quidel from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. BidaskClub raised Quidel from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $50.00 price target on shares of Quidel in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Quidel has a consensus rating of “Buy” and an average target price of $48.80.

Quidel (NASDAQ QDEL) opened at $40.01 on Wednesday. The company has a quick ratio of 5.68, a current ratio of 6.28 and a debt-to-equity ratio of 0.70. Quidel has a twelve month low of $18.25 and a twelve month high of $45.55.

In other Quidel news, SVP Werner Kroll sold 7,565 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $39.50, for a total transaction of $298,817.50. Following the sale, the senior vice president now directly owns 10,261 shares in the company, valued at $405,309.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $42.91, for a total value of $1,544,760.00. Following the sale, the chief executive officer now owns 296,493 shares in the company, valued at $12,722,514.63. The disclosure for this sale can be found here. In the last three months, insiders sold 200,823 shares of company stock worth $8,096,274. Corporate insiders own 22.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Quidel by 3.2% in the second quarter. Vanguard Group Inc. now owns 2,195,101 shares of the company’s stock valued at $59,575,000 after acquiring an additional 68,549 shares in the last quarter. Macquarie Group Ltd. increased its stake in Quidel by 8.1% in the second quarter. Macquarie Group Ltd. now owns 1,292,492 shares of the company’s stock valued at $35,078,000 after purchasing an additional 96,565 shares during the last quarter. New York State Common Retirement Fund increased its stake in Quidel by 0.7% in the third quarter. New York State Common Retirement Fund now owns 899,390 shares of the company’s stock valued at $39,447,000 after purchasing an additional 6,635 shares during the last quarter. Fred Alger Management Inc. increased its stake in Quidel by 0.4% in the second quarter. Fred Alger Management Inc. now owns 672,880 shares of the company’s stock valued at $18,262,000 after purchasing an additional 2,757 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Quidel by 27.6% in the second quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock valued at $16,623,000 after purchasing an additional 132,587 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This story was first reported by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/12/13/zacks-analysts-expect-quidel-corporation-qdel-will-post-quarterly-sales-of-115-02-million.html.

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.

Get a free copy of the Zacks research report on Quidel (QDEL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Quidel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quidel and related companies with MarketBeat.com's FREE daily email newsletter.