State Board of Administration of Florida Retirement System Lowers Holdings in Quidel Co. (NASDAQ:QDEL)

State Board of Administration of Florida Retirement System trimmed its position in Quidel Co. (NASDAQ:QDEL) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,496 shares of the company’s stock after selling 878 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of Quidel worth $6,704,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Quidel during the 2nd quarter worth $41,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Quidel by 58.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 327 shares of the company’s stock worth $42,000 after purchasing an additional 120 shares in the last quarter. Bbva USA boosted its position in shares of Quidel by 695.6% during the 3rd quarter. Bbva USA now owns 358 shares of the company’s stock worth $51,000 after purchasing an additional 313 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Quidel during the 3rd quarter worth $56,000. Finally, AGF Investments Inc. boosted its position in shares of Quidel by 39.1% during the 2nd quarter. AGF Investments Inc. now owns 1,552 shares of the company’s stock worth $199,000 after purchasing an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 86.20% of the company’s stock.

Several research firms recently commented on QDEL. JPMorgan Chase & Co. boosted their price objective on shares of Quidel from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 8th. Zacks Investment Research upgraded shares of Quidel from a “hold” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a research report on Friday, November 12th.

Quidel stock opened at $114.88 on Friday. Quidel Co. has a 52 week low of $103.31 and a 52 week high of $265.00. The firm’s 50-day simple moving average is $139.07 and its 200 day simple moving average is $135.84. The firm has a market capitalization of $4.79 billion, a PE ratio of 5.63 and a beta of -0.27.

Quidel (NASDAQ:QDEL) last announced its earnings results on Thursday, November 4th. The company reported $5.36 earnings per share for the quarter, beating the consensus estimate of $3.52 by $1.84. Quidel had a net margin of 47.20% and a return on equity of 62.24%. The firm had revenue of $509.70 million during the quarter, compared to the consensus estimate of $344.25 million. During the same quarter in the previous year, the company posted $5.68 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts forecast that Quidel Co. will post 14.94 earnings per share for the current fiscal year.

About Quidel

Quidel Corp. engages in the development, manufacture and market of rapid diagnostic testing solutions. Its portfolio includes rapid immunoassays, cardiac immunoassays, specialized diagnostic solutions and molecular diagnostic solutions. The firm products are directly sold to end users and distributors and for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, urgent care clinics, universities, retail clinics, pharmacies and wellness screening centers.

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Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

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