TIAA CREF Investment Management LLC Has $4.75 Million Position in Quidel Co. (QDEL)

TIAA CREF Investment Management LLC lessened its holdings in Quidel Co. (NASDAQ:QDEL) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,520 shares of the company’s stock after selling 2,175 shares during the quarter. TIAA CREF Investment Management LLC owned 0.32% of Quidel worth $4,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Tamarack Advisers LP raised its position in Quidel by 80.0% in the 4th quarter. Tamarack Advisers LP now owns 270,000 shares of the company’s stock worth $11,705,000 after purchasing an additional 120,000 shares during the period. California Public Employees Retirement System raised its position in Quidel by 2.9% in the 4th quarter. California Public Employees Retirement System now owns 59,799 shares of the company’s stock worth $2,592,000 after purchasing an additional 1,696 shares during the period. Schwab Charles Investment Management Inc. raised its position in Quidel by 4.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 181,804 shares of the company’s stock worth $7,974,000 after purchasing an additional 7,016 shares during the period. Goldman Sachs Group Inc. raised its position in Quidel by 10.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 857,195 shares of the company’s stock worth $37,159,000 after purchasing an additional 83,894 shares during the period. Finally, OppenheimerFunds Inc. raised its position in Quidel by 206.6% in the 4th quarter. OppenheimerFunds Inc. now owns 630,052 shares of the company’s stock worth $27,313,000 after purchasing an additional 424,580 shares during the period. Institutional investors own 93.34% of the company’s stock.

How to Become a New Pot Stock Millionaire

In other Quidel news, Director Jack W. Schuler sold 12,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $48.50, for a total value of $582,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $51.63, for a total transaction of $1,858,680.00. Following the completion of the transaction, the chief executive officer now owns 306,313 shares in the company, valued at approximately $15,814,940.19. The disclosure for this sale can be found here. Insiders sold 120,000 shares of company stock worth $5,751,720 in the last 90 days. Corporate insiders own 22.00% of the company’s stock.

QDEL stock opened at $56.35 on Friday. Quidel Co. has a 12-month low of $23.02 and a 12-month high of $57.30. The stock has a market capitalization of $2,106.41, a price-to-earnings ratio of -805.00, a PEG ratio of 0.95 and a beta of 0.89. The company has a debt-to-equity ratio of 1.66, a quick ratio of 2.06 and a current ratio of 2.58.

Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.70. Quidel had a negative net margin of 2.94% and a negative return on equity of 3.02%. The firm had revenue of $114.90 million for the quarter, compared to analysts’ expectations of $115.06 million. During the same quarter in the previous year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was up 117.6% compared to the same quarter last year. equities analysts predict that Quidel Co. will post 2.38 EPS for the current year.

QDEL has been the topic of a number of analyst reports. BidaskClub upgraded shares of Quidel from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 target price (up previously from $48.00) on shares of Quidel in a research report on Thursday, December 21st. Zacks Investment Research cut shares of Quidel from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 28th. CL King upgraded shares of Quidel from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Thursday, January 4th. Finally, Barclays lifted their target price on shares of Quidel from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $57.29.

TRADEMARK VIOLATION NOTICE: This report was first published by Week Herald and is the sole property of of Week Herald. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at https://weekherald.com/2018/04/20/tiaa-cref-investment-management-llc-has-4-75-million-position-in-quidel-co-qdel.html.

About Quidel

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.

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.

Leave a Reply