Raymond James Financial, Inc. reissued their buy rating on shares of Quidel Corporation (NASDAQ:QDEL) in a research report released on Tuesday. The brokerage currently has a $47.00 price objective on the stock, up from their previous price objective of $41.00.
A number of other equities research analysts have also recently issued reports on QDEL. Piper Jaffray Companies upgraded Quidel Corporation from a neutral rating to an overweight rating and boosted their price objective for the stock from $35.00 to $50.00 in a report on Tuesday. Barclays PLC boosted their price objective on Quidel Corporation from $36.00 to $39.00 and gave the stock an overweight rating in a report on Thursday, July 27th. BidaskClub cut Quidel Corporation from a buy rating to a hold rating in a report on Monday, July 31st. Zacks Investment Research cut Quidel Corporation from a hold rating to a strong sell rating in a report on Saturday, July 29th. Finally, TheStreet upgraded Quidel Corporation from a c+ rating to a b- rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $44.00.
Shares of Quidel Corporation (QDEL) traded down 0.21% on Tuesday, hitting $43.04. The stock had a trading volume of 144,341 shares. Quidel Corporation has a one year low of $18.25 and a one year high of $45.55. The stock’s market capitalization is $1.44 billion. The firm’s 50 day moving average is $34.42 and its 200-day moving average is $27.83.
Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.18). The business had revenue of $38.30 million for the quarter, compared to analyst estimates of $41.91 million. Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. Quidel Corporation’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS. Equities research analysts expect that Quidel Corporation will post $0.29 earnings per share for the current fiscal year.
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In related news, CFO Randall J. Steward sold 94,215 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $34.09, for a total value of $3,211,789.35. Following the completion of the sale, the chief financial officer now directly owns 79,907 shares in the company, valued at $2,724,029.63. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael Donald Jr. Abney sold 1,173 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $33.83, for a total value of $39,682.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,388 shares of company stock valued at $6,691,992. Corporate insiders own 22.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc boosted its stake in shares of Quidel Corporation by 4.0% in the second quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock valued at $197,000 after buying an additional 278 shares during the period. Teachers Advisors LLC boosted its stake in shares of Quidel Corporation by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 47,367 shares of the company’s stock valued at $1,015,000 after buying an additional 333 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Quidel Corporation by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 21,831 shares of the company’s stock valued at $593,000 after buying an additional 333 shares during the period. AHL Partners LLP boosted its stake in shares of Quidel Corporation by 4.0% in the second quarter. AHL Partners LLP now owns 18,666 shares of the company’s stock valued at $507,000 after buying an additional 718 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Quidel Corporation by 1.1% in the second quarter. TIAA CREF Investment Management LLC now owns 99,227 shares of the company’s stock valued at $2,693,000 after buying an additional 1,062 shares during the period. 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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