Quidel (QDEL) Hits New 52-Week High and Low at $67.58

Shares of Quidel Co. (NASDAQ:QDEL) hit a new 52-week high and low during trading on Thursday . The stock traded as low as $67.58 and last traded at $67.09, with a volume of 5199 shares trading hands. The stock had previously closed at $65.90.

Several analysts have commented on QDEL shares. Canaccord Genuity increased their target price on Quidel from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, April 5th. Barclays increased their target price on Quidel from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 2nd. ValuEngine downgraded Quidel from a “hold” rating to a “sell” rating in a research note on Wednesday, March 28th. Craig Hallum started coverage on Quidel in a research note on Monday, March 26th. They set a “buy” rating and a $62.00 target price on the stock. Finally, Raymond James upgraded Quidel from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $55.00 to $47.00 in a research note on Thursday, March 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and four have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $59.29.

The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -964.14, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.36 and a quick ratio of 1.06.

Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Tuesday, May 8th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.28. The firm had revenue of $169.10 million for the quarter, compared to analysts’ expectations of $151.50 million. Quidel had a return on equity of 12.54% and a net margin of 3.08%. The company’s revenue was up 129.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. equities analysts anticipate that Quidel Co. will post 2.3 EPS for the current year.

In other news, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction on Tuesday, March 27th. The stock was sold at an average price of $51.51, for a total transaction of $618,120.00. Following the transaction, the chief executive officer now directly owns 306,313 shares of the company’s stock, valued at approximately $15,778,182.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ratan S. Borkar sold 26,555 shares of the stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $65.00, for a total value of $1,726,075.00. Following the transaction, the senior vice president now directly owns 16,504 shares in the company, valued at $1,072,760. The disclosure for this sale can be found here. Insiders have sold a total of 201,006 shares of company stock worth $11,728,499 over the last three months. Insiders own 16.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd bought a new position in Quidel in the 1st quarter worth $575,000. Xact Kapitalforvaltning AB bought a new position in Quidel in the 1st quarter worth $241,000. Millennium Management LLC raised its holdings in Quidel by 72.0% in the 1st quarter. Millennium Management LLC now owns 996,815 shares of the company’s stock worth $51,645,000 after purchasing an additional 417,106 shares during the period. Point72 Asset Management L.P. raised its holdings in Quidel by 139.4% in the 1st quarter. Point72 Asset Management L.P. now owns 636,764 shares of the company’s stock worth $32,991,000 after purchasing an additional 370,763 shares during the period. Finally, Guggenheim Capital LLC bought a new position in Quidel in the 1st quarter worth $1,262,000. 90.15% of the stock is currently owned by institutional investors.

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 products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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