Stephens Investment Management Group LLC acquired a new stake in shares of Quidel Co. (NASDAQ:QDEL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 104,165 shares of the company’s stock, valued at approximately $23,306,000. Stephens Investment Management Group LLC owned approximately 0.25% of Quidel as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of QDEL. Virtus Alternative Investment Advisers Inc. bought a new position in Quidel during the second quarter valued at approximately $27,000. Trustcore Financial Services LLC raised its position in shares of Quidel by 73.3% in the second quarter. Trustcore Financial Services LLC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 55 shares during the period. CSat Investment Advisory L.P. bought a new position in shares of Quidel in the second quarter valued at approximately $29,000. Harbor Investment Advisory LLC bought a new position in shares of Quidel in the first quarter valued at approximately $31,000. Finally, Private Advisor Group LLC bought a new position in shares of Quidel in the second quarter valued at approximately $31,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.
In other Quidel news, SVP Werner Kroll sold 2,072 shares of Quidel stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $287.48, for a total transaction of $595,658.56. Following the sale, the senior vice president now owns 4,599 shares in the company, valued at $1,322,120.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael Donald Jr. Abney sold 5,610 shares of Quidel stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $250.00, for a total transaction of $1,402,500.00. Following the sale, the senior vice president now owns 8,969 shares in the company, valued at approximately $2,242,250. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 20,800 shares of company stock worth $4,270,515 and have sold 28,848 shares worth $8,058,196. 14.10% of the stock is owned by insiders.
Shares of Quidel stock traded up $3.44 during midday trading on Wednesday, hitting $165.86. The company had a trading volume of 8,807 shares, compared to its average volume of 938,691. The business’s 50 day simple moving average is $220.17 and its two-hundred day simple moving average is $171.80. The stock has a market cap of $6.81 billion, a PE ratio of 45.38 and a beta of 0.99. Quidel Co. has a 1-year low of $55.25 and a 1-year high of $306.72.
Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.65. Quidel had a net margin of 23.61% and a return on equity of 33.86%. The firm had revenue of $201.75 million for the quarter, compared to the consensus estimate of $201.40 million. Equities analysts predict that Quidel Co. will post 11.96 earnings per share for the current fiscal year.
A number of research firms have recently commented on QDEL. ValuEngine lowered shares of Quidel from a “hold” rating to a “sell” rating in a research report on Thursday, August 27th. Zacks Investment Research raised shares of Quidel from a “hold” rating to a “strong-buy” rating and set a $325.00 price target on the stock in a research report on Tuesday, August 4th. BidaskClub lowered shares of Quidel from a “buy” rating to a “hold” rating in a research report on Friday, September 4th. Craig Hallum raised their price objective on shares of Quidel from $306.00 to $363.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Piper Sandler raised their price objective on shares of Quidel from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $209.00.
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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