Equities analysts expect that Quidel Co. (NASDAQ:QDEL) will announce $115.02 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Quidel’s earnings, with the highest sales estimate coming in at $122.15 million and the lowest estimate coming in at $110.75 million. Quidel reported sales of $52.81 million during the same quarter last year, which indicates a positive year over year growth rate of 117.8%. The firm is expected to report its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Quidel will report full-year sales of $115.02 million for the current fiscal year, with estimates ranging from $273.60 million to $285.91 million. For the next fiscal year, analysts expect that the firm will report sales of $489.01 million per share, with estimates ranging from $485.10 million to $491.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Quidel.
Quidel (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.21). Quidel had a negative return on equity of 2.36% and a negative net margin of 2.33%. The firm had revenue of $50.89 million during the quarter, compared to analysts’ expectations of $50.47 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year.
Several research analysts have recently issued reports on the company. BidaskClub upgraded Quidel from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target (up from $48.00) on shares of Quidel in a research report on Thursday, December 21st. CL King upgraded Quidel from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Thursday, January 4th. Zacks Investment Research cut Quidel from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 28th. Finally, Barclays lifted their price target on Quidel from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Quidel currently has an average rating of “Buy” and an average target price of $50.00.
In other Quidel news, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $42.29, for a total value of $507,480.00. Following the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at $12,538,688.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $37.36, for a total value of $1,344,960.00. Following the completion of the sale, the chief executive officer now directly owns 296,493 shares in the company, valued at $11,076,978.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 385,790 shares of company stock valued at $15,760,155. 22.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. TIAA CREF Investment Management LLC grew its holdings in Quidel 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 purchasing an additional 1,062 shares during the period. Swiss National Bank grew its holdings in Quidel by 4.2% in the third quarter. Swiss National Bank now owns 47,200 shares of the company’s stock valued at $2,070,000 after purchasing an additional 1,900 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Quidel by 45.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 174,788 shares of the company’s stock valued at $4,744,000 after purchasing an additional 54,206 shares during the period. Harvest Management LLC acquired a new stake in Quidel in the third quarter valued at approximately $702,000. Finally, Northern Trust Corp grew its holdings in Quidel by 6.9% in the second quarter. Northern Trust Corp now owns 377,707 shares of the company’s stock valued at $10,250,000 after purchasing an additional 24,453 shares during the period. 92.71% of the stock is currently owned by institutional investors.
Quidel (NASDAQ:QDEL) opened at $45.99 on Tuesday. Quidel has a 12 month low of $18.25 and a 12 month high of $47.60. The stock has a market capitalization of $1,560.00, a PE ratio of -287.44, a PEG ratio of 1.48 and a beta of 1.15. The company has a quick ratio of 5.68, a current ratio of 6.28 and a debt-to-equity ratio of 0.70.
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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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