Quidel Corporation (QDEL) SVP Ratan S. Borkar Sells 7,965 Shares of Stock

Quidel Corporation (NASDAQ:QDEL) SVP Ratan S. Borkar sold 7,965 shares of Quidel Corporation stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $38.91, for a total transaction of $309,918.15. Following the sale, the senior vice president now directly owns 11,084 shares of the company’s stock, valued at approximately $431,278.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of Quidel Corporation (NASDAQ:QDEL) opened at $38.18 on Tuesday. Quidel Corporation has a twelve month low of $18.25 and a twelve month high of $45.55. The company has a current ratio of 6.28, a quick ratio of 5.68 and a debt-to-equity ratio of 0.70.

Quidel Corporation (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.21). The company had revenue of $50.89 million for the quarter, compared to analyst estimates of $50.47 million. Quidel Corporation had a negative return on equity of 2.36% and a negative net margin of 2.33%. Quidel Corporation’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. sell-side analysts expect that Quidel Corporation will post 0.6 earnings per share for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Omni Partners LLP acquired a new position in Quidel Corporation during the 3rd quarter worth approximately $6,412,000. Schwab Charles Investment Management Inc. increased its position in Quidel Corporation by 4.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 181,804 shares of the company’s stock worth $7,974,000 after purchasing an additional 7,016 shares in the last quarter. Wells Fargo & Company MN increased its position in Quidel Corporation by 80.9% during the 3rd quarter. Wells Fargo & Company MN now owns 38,975 shares of the company’s stock worth $1,710,000 after purchasing an additional 17,431 shares in the last quarter. Trexquant Investment LP increased its position in Quidel Corporation by 81.6% during the 3rd quarter. Trexquant Investment LP now owns 22,883 shares of the company’s stock worth $1,004,000 after purchasing an additional 10,283 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Quidel Corporation by 55.4% during the 3rd quarter. Legal & General Group Plc now owns 11,204 shares of the company’s stock worth $492,000 after purchasing an additional 3,995 shares in the last quarter. Institutional investors and hedge funds own 84.42% of the company’s stock.

QDEL has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Quidel Corporation from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Tuesday, July 18th. Canaccord Genuity raised shares of Quidel Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 18th. William Blair raised shares of Quidel Corporation from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 18th. Barclays PLC boosted their price objective on shares of Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. boosted their price objective on shares of Quidel Corporation from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.80.

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.

Insider Buying and Selling by Quarter for Quidel Corporation (NASDAQ:QDEL)

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