Axa acquired a new stake in Quidel Co. (NASDAQ:QDEL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 206,634 shares of the company’s stock, valued at approximately $8,958,000. Axa owned about 0.61% of Quidel at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Gagnon Securities LLC acquired a new stake in Quidel in the 4th quarter valued at about $1,200,000. Geode Capital Management LLC grew its stake in shares of Quidel by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 403,788 shares of the company’s stock valued at $17,504,000 after buying an additional 36,317 shares during the period. King Luther Capital Management Corp purchased a new stake in shares of Quidel in the 4th quarter valued at approximately $585,000. OppenheimerFunds Inc. grew its stake in shares of Quidel by 206.6% in the 4th quarter. OppenheimerFunds Inc. now owns 630,052 shares of the company’s stock valued at $27,313,000 after buying an additional 424,580 shares during the period. Finally, Baird Financial Group Inc. grew its stake in shares of Quidel by 3.7% in the 4th quarter. Baird Financial Group Inc. now owns 141,000 shares of the company’s stock valued at $6,112,000 after buying an additional 5,000 shares during the period. Institutional investors own 93.37% of the company’s stock.
Quidel Co. (NASDAQ QDEL) opened at $48.68 on Tuesday. The company has a current ratio of 2.58, a quick ratio of 2.06 and a debt-to-equity ratio of 1.66. The firm has a market cap of $1,706.03, a P/E ratio of -202.83, a P/E/G ratio of 1.60 and a beta of 1.03. Quidel Co. has a 1 year low of $20.43 and a 1 year high of $49.98.
QDEL has been the subject of several analyst reports. CL King raised shares of Quidel from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Thursday, January 4th. Barclays increased their price target on shares of Quidel from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Piper Jaffray Companies reissued a “buy” rating and issued a $50.00 price target on shares of Quidel in a research note on Thursday, December 14th. Zacks Investment Research cut shares of Quidel from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 28th. Finally, BidaskClub raised shares of Quidel from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $53.50.
In related news, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $44.10, for a total transaction of $1,587,600.00. Following the completion of the transaction, the chief executive officer now owns 286,493 shares of the company’s stock, valued at approximately $12,634,341.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Joseph Bujarski sold 110,704 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $39.78, for a total transaction of $4,403,805.12. Following the transaction, the senior vice president now directly owns 79,797 shares of the company’s stock, valued at approximately $3,174,324.66. The disclosure for this sale can be found here. Insiders have sold a total of 280,584 shares of company stock valued at $12,045,327 in the last ninety days. 22.00% of the stock is currently owned by corporate insiders.
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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