Great West Life Assurance Co. Can lowered its stake in Quidel Co. (NASDAQ:QDEL) by 52.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,185 shares of the company’s stock after selling 2,457 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Quidel were worth $113,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of QDEL. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Quidel in the fourth quarter valued at about $156,000. Mackay Shields LLC acquired a new stake in shares of Quidel in the first quarter valued at about $202,000. Teacher Retirement System of Texas acquired a new stake in shares of Quidel in the fourth quarter valued at about $421,000. UBS Asset Management Americas Inc. grew its stake in shares of Quidel by 173.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 13,140 shares of the company’s stock valued at $570,000 after buying an additional 8,341 shares in the last quarter. Finally, King Luther Capital Management Corp acquired a new stake in shares of Quidel in the fourth quarter valued at about $585,000. Institutional investors and hedge funds own 90.27% of the company’s stock.
Shares of Quidel opened at $68.38 on Friday, according to MarketBeat.com. Quidel Co. has a fifty-two week low of $26.27 and a fifty-two week high of $70.28. The company has a quick ratio of 1.06, a current ratio of 1.36 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -976.86, a price-to-earnings-growth ratio of 1.19 and a beta of 0.91.
In other Quidel news, SVP Ratan S. Borkar sold 26,555 shares of the stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $65.00, for a total transaction of $1,726,075.00. Following the transaction, the senior vice president now owns 16,504 shares of the company’s stock, valued at approximately $1,072,760. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of $62.08, for a total value of $2,234,880.00. Following the transaction, the chief executive officer now directly owns 306,313 shares in the company, valued at approximately $19,015,911.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,006 shares of company stock worth $11,728,499. 16.70% of the stock is currently owned by company insiders.
A number of equities research analysts have weighed in on QDEL shares. TheStreet upgraded Quidel from a “c” rating to a “b” rating in a research note on Tuesday, May 8th. Craig Hallum started coverage on Quidel in a research note on Monday, March 26th. They set a “buy” rating and a $62.00 price objective for the company. BidaskClub upgraded Quidel from a “hold” rating to a “buy” rating in a research note on Saturday, March 10th. Zacks Investment Research upgraded Quidel from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Wednesday, April 25th. Finally, William Blair restated a “buy” rating on shares of Quidel in a research note on Friday, April 13th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and four have given a strong buy rating to the company. Quidel presently has a consensus rating of “Buy” and a consensus price target of $59.29.
Quidel Company Profile
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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