Quidel Corporation (NASDAQ:QDEL)‘s stock had its “buy” rating restated by equities research analysts at Raymond James Financial, Inc. in a note issued to investors on Tuesday. They presently have a $47.00 target price on the stock, up from their previous target price of $41.00. Raymond James Financial, Inc.’s target price would indicate a potential upside of 7.92% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity raised shares of Quidel Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 18th. BidaskClub cut shares of Quidel Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. TheStreet raised shares of Quidel Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, July 6th. Piper Jaffray Companies raised shares of Quidel Corporation from a “neutral” rating to an “overweight” rating and raised their price target for the company from $35.00 to $50.00 in a research report on Tuesday. Finally, Barclays PLC raised their price target on shares of Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Quidel Corporation currently has an average rating of “Buy” and a consensus target price of $44.00.
Shares of Quidel Corporation (QDEL) traded up 0.78% during trading on Tuesday, reaching $43.89. 253,091 shares of the company were exchanged. The stock’s market capitalization is $1.47 billion. The firm has a 50-day moving average price of $34.42 and a 200-day moving average price of $27.83. Quidel Corporation has a 1-year low of $18.25 and a 1-year high of $45.55.
Quidel Corporation (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, July 26th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.18). Quidel Corporation had a negative net margin of 0.03% and a negative return on equity of 0.03%. The business had revenue of $38.30 million during the quarter, compared to analysts’ expectations of $41.91 million. During the same period in the prior year, the business earned ($0.11) EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that Quidel Corporation will post $0.29 earnings per share for the current fiscal year.
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In other news, CFO Randall J. Steward sold 94,215 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $34.09, for a total value of $3,211,789.35. Following the sale, the chief financial officer now directly owns 79,907 shares in the company, valued at approximately $2,724,029.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Donald Jr. Abney sold 1,173 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $33.83, for a total transaction of $39,682.59. The disclosure for this sale can be found here. Insiders sold a total of 203,388 shares of company stock worth $6,691,992 over the last 90 days. Company insiders own 22.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Acrospire Investment Management LLC raised its holdings in shares of Quidel Corporation by 42.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock valued at $100,000 after purchasing an additional 1,091 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Quidel Corporation by 4.6% in the 1st quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after purchasing an additional 306 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Quidel Corporation in the 2nd quarter valued at $209,000. First Quadrant L P CA acquired a new stake in shares of Quidel Corporation in the 2nd quarter valued at $217,000. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Quidel Corporation in the 1st quarter valued at $263,000. Institutional investors and hedge funds own 87.17% of the company’s stock.
Quidel Corporation Company Profile
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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