Quidel Co. (NASDAQ:QDEL) – Investment analysts at William Blair reduced their FY2018 earnings estimates for shares of Quidel in a research report issued to clients and investors on Tuesday, May 22nd. William Blair analyst B. Weinstein now expects that the company will post earnings of $2.29 per share for the year, down from their prior estimate of $2.35. William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Quidel’s FY2019 earnings at $2.38 EPS.
QDEL has been the subject of several other research reports. Canaccord Genuity boosted their price target on shares of Quidel from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, April 5th. Barclays boosted their price target on shares of Quidel from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 2nd. ValuEngine cut shares of Quidel from a “hold” rating to a “sell” rating in a report on Wednesday, March 28th. BidaskClub cut shares of Quidel from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Craig Hallum started coverage on shares of Quidel in a report on Monday, March 26th. They issued a “buy” rating and a $62.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have given a buy rating and four have issued a strong buy rating to the company’s stock. Quidel has a consensus rating of “Buy” and a consensus price target of $59.29.
Quidel (NASDAQ:QDEL) last announced its earnings results on Tuesday, May 8th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.28. Quidel had a net margin of 3.08% and a return on equity of 12.54%. The firm had revenue of $169.10 million for the quarter, compared to the consensus estimate of $151.50 million. During the same period in the prior year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 129.4% on a year-over-year basis.
A number of large investors have recently modified their holdings of QDEL. Schwab Charles Investment Management Inc. boosted its stake in Quidel by 6.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 192,647 shares of the company’s stock worth $8,352,000 after purchasing an additional 10,843 shares during the period. Mesirow Financial Investment Management Equity Management acquired a new stake in Quidel during the 4th quarter worth $16,097,000. Chicago Equity Partners LLC boosted its stake in Quidel by 348.9% during the 4th quarter. Chicago Equity Partners LLC now owns 44,890 shares of the company’s stock worth $1,946,000 after purchasing an additional 34,890 shares during the period. Teacher Retirement System of Texas acquired a new stake in Quidel during the 4th quarter worth $421,000. Finally, California Public Employees Retirement System boosted its stake in Quidel by 2.9% during 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. Hedge funds and other institutional investors own 89.72% of the company’s stock.
In other news, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $44.32, for a total value of $1,595,520.00. Following the completion of the transaction, the chief executive officer now owns 302,843 shares in the company, valued at approximately $13,422,001.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction on Tuesday, March 27th. The stock was sold at an average price of $51.51, for a total transaction of $618,120.00. Following the sale, the chief executive officer now owns 306,313 shares of the company’s stock, valued at approximately $15,778,182.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,000 shares of company stock valued at $7,299,360. Company insiders own 16.70% of the company’s stock.
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 products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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