Analysts Anticipate Quidel Co. (QDEL) Will Announce Earnings of $0.62 Per Share

Wall Street analysts expect Quidel Co. (NASDAQ:QDEL) to report earnings of $0.62 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Quidel’s earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.50. Quidel posted earnings of ($0.11) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 663.6%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that Quidel will report full-year earnings of $2.88 per share for the current financial year, with EPS estimates ranging from $2.74 to $2.96. For the next year, analysts anticipate that the company will post earnings of $2.97 per share, with EPS estimates ranging from $2.82 to $3.08. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Quidel.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.16. Quidel had a net margin of 7.26% and a return on equity of 25.63%. The company had revenue of $117.40 million during the quarter, compared to analyst estimates of $120.09 million. During the same period in the prior year, the business posted $0.17 EPS. The firm’s revenue was up 130.6% compared to the same quarter last year.

A number of equities research analysts recently commented on QDEL shares. Zacks Investment Research lowered shares of Quidel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. BidaskClub upgraded shares of Quidel from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Barclays upped their price target on shares of Quidel from $65.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, August 6th. Canaccord Genuity upped their price target on shares of Quidel from $75.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. Finally, ValuEngine lowered shares of Quidel from a “buy” rating to a “hold” rating in a report on Monday, November 12th. Two analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. Quidel presently has an average rating of “Buy” and an average target price of $74.29.

NASDAQ:QDEL traded down $0.92 during midday trading on Friday, reaching $60.82. 258,693 shares of the stock traded hands, compared to its average volume of 203,864. Quidel has a 12 month low of $36.90 and a 12 month high of $77.63. The company has a quick ratio of 0.86, a current ratio of 1.26 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.39 billion, a P/E ratio of -868.86, a P/E/G ratio of 0.93 and a beta of 1.05.

In other Quidel news, CEO Douglas C. Bryant sold 18,033 shares of the company’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $61.17, for a total value of $1,103,078.61. Following the completion of the transaction, the chief executive officer now directly owns 303,058 shares in the company, valued at approximately $18,538,057.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas C. Bryant sold 25,250 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $65.19, for a total transaction of $1,646,047.50. Following the completion of the transaction, the chief executive officer now owns 319,563 shares of the company’s stock, valued at $20,832,311.97. The disclosure for this sale can be found here. Insiders sold a total of 63,500 shares of company stock valued at $4,158,723 over the last 90 days. Company insiders own 16.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Asset Management Inc. grew its position in shares of Quidel by 225.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 652,048 shares of the company’s stock worth $42,493,000 after buying an additional 451,940 shares during the period. Carillon Tower Advisers Inc. purchased a new stake in shares of Quidel in the 3rd quarter worth about $25,294,000. BlackRock Inc. grew its position in shares of Quidel by 22.2% in the 2nd quarter. BlackRock Inc. now owns 2,188,930 shares of the company’s stock worth $145,564,000 after buying an additional 396,989 shares during the period. Rothschild Asset Management Inc. purchased a new stake in shares of Quidel in the 2nd quarter worth about $25,441,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Quidel in the 2nd quarter worth about $12,857,000. Institutional investors and hedge funds own 90.08% of the company’s stock.

About Quidel

Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications in infectious diseases, cardiology, thyroid, women's and general health, eye health, gastrointestinal diseases, and toxicology. The company offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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