Columbus Circle Investors Acquires Shares of 125,491 Quidel Corporation (QDEL)

Columbus Circle Investors acquired a new position in Quidel Corporation (NASDAQ:QDEL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 125,491 shares of the company’s stock, valued at approximately $5,504,000. Columbus Circle Investors owned 0.37% of Quidel Corporation at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QDEL. Teachers Advisors LLC boosted its holdings in Quidel Corporation by 4.6% in the first quarter. Teachers Advisors LLC now owns 49,537 shares of the company’s stock worth $1,122,000 after purchasing an additional 2,170 shares during the period. Legal & General Group Plc boosted its holdings in Quidel Corporation by 4.6% in the first quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock worth $157,000 after purchasing an additional 306 shares during the period. Vanguard Group Inc. boosted its holdings in Quidel Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 2,126,552 shares of the company’s stock worth $48,145,000 after purchasing an additional 87,995 shares during the period. Geode Capital Management LLC boosted its holdings in Quidel Corporation by 3.9% in the first quarter. Geode Capital Management LLC now owns 224,463 shares of the company’s stock worth $5,081,000 after purchasing an additional 8,441 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Quidel Corporation by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 120,582 shares of the company’s stock worth $2,730,000 after purchasing an additional 6,480 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $34.44, for a total value of $1,239,840.00. Following the transaction, the chief executive officer now owns 296,493 shares in the company, valued at $10,211,218.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $42.86, for a total value of $514,320.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at approximately $12,707,689.98. The disclosure for this sale can be found here. Insiders have sold 135,530 shares of company stock worth $5,414,976 in the last 90 days. Company insiders own 22.00% of the company’s stock.

A number of research firms have commented on QDEL. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Quidel Corporation in a report on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and set a $48.00 price target on shares of Quidel Corporation in a report on Wednesday, October 25th. Barclays PLC reissued a “buy” rating and set a $45.00 price target (up previously from $39.00) on shares of Quidel Corporation in a report on Tuesday, September 19th. TheStreet downgraded shares of Quidel Corporation from a “b-” rating to a “c” rating in a report on Wednesday, July 26th. Finally, Zacks Investment Research raised shares of Quidel Corporation from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Quidel Corporation has an average rating of “Buy” and a consensus target price of $48.80.

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Quidel Corporation (NASDAQ:QDEL) traded up $0.44 during midday trading on Tuesday, reaching $38.38. The company’s stock had a trading volume of 230,400 shares, compared to its average volume of 285,647. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.68 and a current ratio of 6.28. Quidel Corporation has a 12-month low of $18.25 and a 12-month high of $45.55.

Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). Quidel Corporation had a negative net margin of 2.33% and a negative return on equity of 2.36%. The firm had revenue of $50.89 million during the quarter, compared to the consensus estimate of $50.47 million. During the same period in the previous year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. sell-side analysts expect that Quidel Corporation will post 0.6 earnings per share for the current year.

About Quidel Corporation

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.

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Institutional Ownership by Quarter for Quidel Corporation (NASDAQ:QDEL)

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