Quidel Corporation (NASDAQ:QDEL) CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $27.30, for a total transaction of $982,800.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at $8,094,258.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Quidel Corporation (NASDAQ QDEL) opened at 32.85 on Friday. The company has a 50 day moving average of $29.52 and a 200-day moving average of $24.10. The firm has a market cap of $1.09 billion, a PE ratio of 273.75 and a beta of 1.25. Quidel Corporation has a one year low of $18.25 and a one year high of $38.92.
Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.18. Quidel Corporation had a net margin of 1.83% and a return on equity of 1.94%. The company had revenue of $38.30 million during the quarter, compared to the consensus estimate of $41.91 million. During the same quarter last year, the company earned ($0.11) earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Quidel Corporation will post $0.28 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in the company. American International Group Inc. raised its position in shares of Quidel Corporation by 7.1% in the first quarter. American International Group Inc. now owns 16,546 shares of the company’s stock valued at $375,000 after buying an additional 1,099 shares during the period. Alambic Investment Management L.P. purchased a new position in shares of Quidel Corporation during the first quarter valued at about $263,000. Trexquant Investment LP purchased a new position in shares of Quidel Corporation during the first quarter valued at about $789,000. Eagle Boston Investment Management Inc. raised its position in shares of Quidel Corporation by 5.7% in the first quarter. Eagle Boston Investment Management Inc. now owns 347,144 shares of the company’s stock valued at $7,859,000 after buying an additional 18,611 shares during the period. Finally, Sei Investments Co. raised its position in shares of Quidel Corporation by 1,194.5% in the first quarter. Sei Investments Co. now owns 40,505 shares of the company’s stock valued at $917,000 after buying an additional 37,376 shares during the period. Institutional investors own 89.25% of the company’s stock.
QDEL has been the topic of several research reports. William Blair raised shares of Quidel Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 18th. Zacks Investment Research downgraded shares of Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Canaccord Genuity reaffirmed a “hold” rating and set a $24.50 target price (up from $24.00) on shares of Quidel Corporation in a research note on Tuesday, April 25th. TheStreet raised shares of Quidel Corporation from a “d+” rating to a “c-” rating in a research note on Tuesday, April 18th. Finally, Barclays PLC boosted their price target on shares of Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $31.40.
About Quidel Corporation
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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