Quidel Co. (NASDAQ:QDEL) SVP Ratan S. Borkar sold 4,700 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.00, for a total transaction of $329,000.00. Following the completion of the sale, the senior vice president now directly owns 14,004 shares in the company, valued at $980,280. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of NASDAQ QDEL opened at $71.91 on Friday. The firm has a market cap of $2.96 billion, a PE ratio of 25.50 and a beta of 1.48. Quidel Co. has a 12-month low of $44.27 and a 12-month high of $73.97. The company’s fifty day simple moving average is $64.47 and its 200 day simple moving average is $60.48. The company has a quick ratio of 0.97, a current ratio of 1.46 and a debt-to-equity ratio of 0.15.
Quidel (NASDAQ:QDEL) last issued its earnings results on Wednesday, October 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The business had revenue of $126.50 million for the quarter, compared to analyst estimates of $125.52 million. Quidel had a net margin of 14.51% and a return on equity of 22.48%. Quidel’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. On average, equities analysts predict that Quidel Co. will post 2.55 earnings per share for the current year.
QDEL has been the topic of a number of analyst reports. Craig Hallum raised shares of Quidel from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $75.00 in a research note on Thursday, August 29th. TheStreet raised shares of Quidel from a “c+” rating to a “b” rating in a research note on Friday, November 1st. BidaskClub raised shares of Quidel from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of Quidel from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $75.00 price objective (up from $70.00) on shares of Quidel in a research note on Sunday, November 17th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $74.00.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Brown Capital Management LLC boosted its stake in 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 acquiring an additional 180,432 shares in the last quarter. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 250,095 shares in the last quarter. BlackRock Inc. boosted its stake in 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 acquiring an additional 173,353 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Quidel by 7.1% during the second quarter. Macquarie Group Ltd. now owns 1,075,787 shares of the company’s stock worth $63,815,000 after acquiring an additional 71,392 shares in the last quarter. Finally, Carillon Tower Advisers Inc. boosted its stake in Quidel by 15.1% during the third quarter. Carillon Tower Advisers Inc. now owns 457,803 shares of the company’s stock worth $28,086,000 after acquiring an additional 60,000 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.
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.
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