Quidel (QDEL) Upgraded by CL King to Buy

Quidel (NASDAQ:QDEL) was upgraded by equities researchers at CL King to a “buy” rating in a research note issued to investors on Thursday, The Fly reports.

Several other equities research analysts also recently weighed in on QDEL. Zacks Investment Research downgraded Quidel from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price target (up from $48.00) on shares of Quidel in a research report on Thursday, December 21st. Piper Jaffray Companies raised Quidel from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $50.00 in a research report on Tuesday, September 19th. BidaskClub raised Quidel from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Finally, Barclays reaffirmed a “buy” rating and set a $45.00 price target (up from $39.00) on shares of Quidel in a research report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $49.60.

Shares of Quidel (NASDAQ:QDEL) opened at $44.91 on Thursday. The firm has a market capitalization of $1,510.48, a PE ratio of -299.38, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.68 and a current ratio of 6.28. Quidel has a 12-month low of $18.25 and a 12-month high of $46.14.

Quidel (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.21). The company had revenue of $50.89 million for the quarter, compared to analyst estimates of $50.47 million. Quidel had a negative return on equity of 2.36% and a negative net margin of 2.33%. Quidel’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 posted $0.10 earnings per share. equities analysts anticipate that Quidel will post -0.23 earnings per share for the current fiscal year.

In other news, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $37.36, for a total transaction of $1,344,960.00. Following 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $44.12, for a total transaction of $529,440.00. Following the sale, the chief executive officer now directly owns 286,493 shares in the company, valued at $12,640,071.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 351,910 shares of company stock worth $14,222,993. Corporate insiders own 22.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in Quidel in the 4th quarter valued at about $15,459,000. Point72 Asset Management L.P. purchased a new position in Quidel in the 1st quarter valued at about $11,266,000. Macquarie Group Ltd. lifted its stake in Quidel by 23.6% in the 1st quarter. Macquarie Group Ltd. now owns 1,195,927 shares of the company’s stock valued at $27,076,000 after buying an additional 228,515 shares in the last quarter. Arrowpoint Asset Management LLC lifted its stake in Quidel by 18.1% in the 4th quarter. Arrowpoint Asset Management LLC now owns 1,291,264 shares of the company’s stock valued at $27,659,000 after buying an additional 197,809 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in Quidel in the 2nd quarter valued at about $5,062,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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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.

The Fly

Analyst Recommendations for Quidel (NASDAQ:QDEL)

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