AQR Capital Management LLC boosted its stake in shares of Quidel Co. (NASDAQ:QDEL) by 2.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 28,605 shares of the company’s stock after buying an additional 783 shares during the period. AQR Capital Management LLC owned approximately 0.07% of Quidel worth $2,798,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in QDEL. Norges Bank purchased a new stake in Quidel during the 4th quarter valued at $62,815,000. Invesco Ltd. increased its stake in Quidel by 105.7% in the first quarter. Invesco Ltd. now owns 667,329 shares of the company’s stock worth $65,272,000 after purchasing an additional 342,986 shares during the period. Bridger Management LLC purchased a new stake in Quidel in the fourth quarter worth $21,511,000. GW&K Investment Management LLC purchased a new stake in Quidel in the first quarter worth $26,716,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Quidel by 65.6% in the fourth quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 289,602 shares of the company’s stock worth $21,729,000 after purchasing an additional 114,740 shares during the period. Institutional investors own 86.98% of the company’s stock.
In related news, SVP Ratan S. Borkar sold 28,312 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $192.82, for a total transaction of $5,459,119.84. Following the sale, the senior vice president now owns 10,839 shares of the company’s stock, valued at $2,089,975.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas C. Bryant acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $160.33 per share, for a total transaction of $801,650.00. Following the transaction, the chief executive officer now owns 445,823 shares of the company’s stock, valued at $71,478,801.59. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 143,164 shares of company stock worth $26,211,364. 14.10% of the stock is owned by corporate insiders.
QDEL has been the topic of a number of recent analyst reports. ValuEngine upgraded Quidel from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Raymond James lowered Quidel from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, March 19th. Barclays reiterated an “equal weight” rating and issued a $90.00 target price on shares of Quidel in a research note on Thursday, March 26th. Craig Hallum increased their target price on Quidel from $125.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. lowered Quidel from a “neutral” rating to an “underweight” rating and raised their price target for the company from $120.00 to $158.00 in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $114.67.
Shares of Quidel stock opened at $223.74 on Wednesday. The firm has a market cap of $8.84 billion, a P/E ratio of 109.14 and a beta of 1.13. The company has a current ratio of 2.10, a quick ratio of 1.67 and a debt-to-equity ratio of 0.15. Quidel Co. has a 12 month low of $52.49 and a 12 month high of $228.00. The stock’s fifty day moving average price is $184.37 and its 200-day moving average price is $113.00.
Quidel (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.99 by $0.16. Quidel had a return on equity of 23.69% and a net margin of 15.73%. The firm had revenue of $174.65 million for the quarter, compared to analyst estimates of $157.12 million. Analysts forecast that Quidel Co. will post 6.6 earnings per share for the current year.
Quidel Company Profile
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, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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