Quidel’s (QDEL) Buy Rating Reaffirmed at Piper Jaffray Companies
Quidel (NASDAQ:QDEL)‘s stock had its “buy” rating reissued by Piper Jaffray Companies in a research note issued on Thursday. They presently have a $50.00 price objective on the stock. Piper Jaffray Companies’ target price would suggest a potential upside of 24.47% from the stock’s previous close.
A number of other analysts have also recently weighed in on QDEL. Raymond James Financial restated a “buy” rating and set a $47.00 target price (up from $41.00) on shares of Quidel in a report on Tuesday, September 19th. Barclays reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $39.00) on shares of Quidel in a research note on Tuesday, September 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $42.00) on shares of Quidel in a research note on Tuesday, September 19th. Zacks Investment Research raised shares of Quidel from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, BidaskClub raised shares of Quidel from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $48.80.
Shares of Quidel (NASDAQ QDEL) traded up $0.16 during trading hours on Thursday, reaching $40.17. 230,400 shares of the company were exchanged, compared to its average volume of 298,459. Quidel has a 1 year low of $18.25 and a 1 year high of $45.55. The company has a quick ratio of 5.68, a current ratio of 6.28 and a debt-to-equity ratio of 0.70.
In other news, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $42.91, for a total transaction of $1,544,760.00. Following the transaction, the chief executive officer now owns 296,493 shares in the company, valued at approximately $12,722,514.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Werner Kroll sold 16,358 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $40.44, for a total transaction of $661,517.52. Following the transaction, the senior vice president now owns 10,818 shares in the company, valued at approximately $437,479.92. The disclosure for this sale can be found here. Insiders have sold a total of 200,823 shares of company stock worth $8,096,274 in the last 90 days. 22.00% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its holdings in shares of Quidel by 42.2% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock valued at $100,000 after purchasing an additional 1,091 shares in the last quarter. Legal & General Group Plc raised its holdings in Quidel by 4.0% in the 2nd 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. Great West Life Assurance Co. Can raised its holdings in Quidel by 162.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock worth $204,000 after acquiring an additional 2,875 shares during the period. Jane Street Group LLC bought a new position in Quidel in the 3rd quarter worth $205,000. Finally, Russell Investments Group Ltd. bought a new position in Quidel in the 2nd quarter worth $209,000. Institutional investors and hedge funds own 92.67% of the company’s stock.
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Quidel Company Profile
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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