Quidel Co. (NASDAQ:QDEL) Shares Sold by Oracle Investment Management Inc.

Oracle Investment Management Inc. reduced its stake in shares of Quidel Co. (NASDAQ:QDEL) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,785,264 shares of the company’s stock after selling 118,294 shares during the quarter. Quidel accounts for 22.8% of Oracle Investment Management Inc.’s portfolio, making the stock its largest position. Oracle Investment Management Inc.’s holdings in Quidel were worth $105,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in QDEL. Brown Capital Management LLC grew its holdings in shares of Quidel by 3.3% during the second quarter. Brown Capital Management LLC now owns 5,648,414 shares of the company’s stock worth $335,064,000 after purchasing an additional 180,432 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Quidel by 7.8% during the second quarter. Vanguard Group Inc. now owns 3,451,846 shares of the company’s stock worth $204,764,000 after purchasing an additional 250,095 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Quidel by 7.6% during the second quarter. BlackRock Inc. now owns 2,461,579 shares of the company’s stock worth $146,023,000 after purchasing an additional 173,353 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Quidel by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 861,159 shares of the company’s stock worth $42,041,000 after purchasing an additional 17,041 shares during the last quarter. Finally, Rothschild & Co. Asset Management US Inc. grew its holdings in shares of Quidel by 3.7% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 472,419 shares of the company’s stock worth $28,024,000 after purchasing an additional 16,966 shares during the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Quidel stock traded up $0.37 during mid-day trading on Friday, hitting $64.35. The stock had a trading volume of 6,224 shares, compared to its average volume of 264,305. The stock has a 50-day simple moving average of $60.89 and a two-hundred day simple moving average of $60.68. The stock has a market capitalization of $2.69 billion, a PE ratio of 22.59, a P/E/G ratio of 0.97 and a beta of 1.39. Quidel Co. has a 12 month low of $44.27 and a 12 month high of $70.31. The company has a current ratio of 1.40, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Quidel had a return on equity of 23.34% and a net margin of 13.71%. The business had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $108.40 million. During the same quarter last year, the business earned $0.36 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Quidel Co. will post 2.69 earnings per share for the current fiscal year.

In other Quidel news, CEO Douglas C. Bryant sold 25,250 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $57.25, for a total transaction of $1,445,562.50. Following the transaction, the chief executive officer now owns 307,280 shares in the company, valued at $17,591,780. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Karen Gibson sold 4,527 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $67,515.00, for a total value of $305,640,405.00. Following the transaction, the senior vice president now owns 19,545 shares in the company, valued at approximately $1,319,580,675. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,783 shares of company stock worth $315,304,516. Company insiders own 14.10% of the company’s stock.

Several analysts have recently commented on QDEL shares. BidaskClub cut Quidel from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. ValuEngine upgraded Quidel from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. TheStreet cut Quidel from a “b” rating to a “c+” rating in a report on Thursday, August 8th. Zacks Investment Research cut Quidel from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price target on shares of Quidel in a report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.00.

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

Read More: Why do corrections happen?

Want to see what other hedge funds are holding QDEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quidel Co. (NASDAQ:QDEL).

Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

Receive News & Ratings for Quidel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quidel and related companies with MarketBeat.com's FREE daily email newsletter.