Quidel (NASDAQ:QDEL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $75.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.53% from the stock’s previous close.
According to Zacks, “Quidel Corp. discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women’s health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. “
A number of other research firms have also issued reports on QDEL. BidaskClub raised shares of Quidel from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Barclays upped their price objective on shares of Quidel from $65.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, August 6th. Canaccord Genuity upped their price objective on shares of Quidel from $75.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. ValuEngine lowered shares of Quidel from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 19th. Finally, TheStreet lowered shares of Quidel from a “b” rating to a “c+” rating in a report on Wednesday, August 8th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $74.14.
Quidel (NASDAQ:QDEL) last released its earnings results on Tuesday, November 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.16. Quidel had a net margin of 7.26% and a return on equity of 27.28%. The business had revenue of $117.40 million during the quarter, compared to analyst estimates of $120.09 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 130.6% compared to the same quarter last year. On average, research analysts anticipate that Quidel will post 2.55 EPS for the current fiscal year.
In related news, Director Mary Lake Ph D. Polan sold 3,886 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $70.01, for a total value of $272,058.86. Following the completion of the sale, the director now owns 29,653 shares of the company’s stock, valued at $2,076,006.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas D. Brown sold 15,600 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $70.12, for a total transaction of $1,093,872.00. Following the completion of the sale, the director now directly owns 61,758 shares of the company’s stock, valued at approximately $4,330,470.96. The disclosure for this sale can be found here. Insiders sold 162,667 shares of company stock valued at $11,298,592 in the last three months. 16.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of QDEL. Meeder Asset Management Inc. lifted its position in Quidel by 383.5% in the third quarter. Meeder Asset Management Inc. now owns 2,659 shares of the company’s stock valued at $173,000 after buying an additional 2,109 shares during the last quarter. NewSquare Capital LLC acquired a new position in Quidel in the second quarter valued at about $178,000. Great West Life Assurance Co. Can lifted its position in Quidel by 55.8% in the second quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock valued at $227,000 after buying an additional 1,220 shares during the last quarter. Winslow Evans & Crocker Inc. acquired a new position in Quidel in the second quarter valued at about $236,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Quidel in the first quarter valued at about $241,000. 88.38% of the stock is currently owned by institutional investors.
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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