Quidel Corporation (NASDAQ:QDEL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $30.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential downside of 12.08% from the stock’s current price.
According to Zacks, “Quidel Corp. discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women’s health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. “
A number of other analysts also recently weighed in on the stock. Barclays PLC increased their price target on shares of Quidel Corporation from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. TheStreet raised Quidel Corporation from a “d+” rating to a “c-” rating in a research note on Tuesday, April 18th. Canaccord Genuity reissued a “hold” rating and set a $25.00 target price (up from $24.50) on shares of Quidel Corporation in a research note on Friday, May 19th. Finally, BidaskClub cut Quidel Corporation from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $26.00.
Quidel Corporation (NASDAQ:QDEL) opened at 34.12 on Tuesday. Quidel Corporation has a 52-week low of $18.25 and a 52-week high of $34.16. The stock has a 50 day moving average of $25.53 and a 200 day moving average of $22.56. The stock has a market capitalization of $1.13 billion, a P/E ratio of 284.33 and a beta of 1.25.
Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings results on Monday, April 24th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.30. The business had revenue of $73.70 million for the quarter, compared to the consensus estimate of $61.85 million. Quidel Corporation had a net margin of 1.83% and a return on equity of 1.94%. Quidel Corporation’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. On average, equities research analysts forecast that Quidel Corporation will post $0.42 EPS for the current year.
In other Quidel Corporation news, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $24.90, for a total transaction of $298,800.00. Following the completion of the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at approximately $7,382,675.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $27.30, for a total value of $982,800.00. Following the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at approximately $8,094,258.90. The disclosure for this sale can be found here. Insiders sold 208,450 shares of company stock valued at $5,204,956 over the last three months. 22.00% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. First Mercantile Trust Co. increased its stake in Quidel Corporation by 0.8% in the first quarter. First Mercantile Trust Co. now owns 5,280 shares of the company’s stock worth $120,000 after buying an additional 40 shares during the period. Legal & General Group Plc increased its stake in Quidel Corporation by 4.6% in the first quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock worth $157,000 after buying an additional 306 shares during the period. Trellus Management Company LLC bought a new stake in Quidel Corporation during the first quarter worth approximately $262,000. Alambic Investment Management L.P. bought a new stake in Quidel Corporation during the first quarter worth approximately $263,000. Finally, American International Group Inc. increased its stake in Quidel Corporation by 7.1% in the first quarter. American International Group Inc. now owns 16,546 shares of the company’s stock worth $375,000 after buying an additional 1,099 shares during the period. 89.25% of the stock is owned by institutional investors and hedge funds.
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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