Quidel (NASDAQ:QDEL)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a research report issued to clients and investors on Thursday. They currently have a $52.00 price objective on the stock, up from their previous price objective of $48.00. Canaccord Genuity’s target price suggests a potential upside of 13.66% from the stock’s current price.
Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Quidel from a “hold” rating to a “buy” rating in a report on Thursday. Piper Jaffray Companies reissued a “buy” rating and issued a $50.00 price objective on shares of Quidel in a report on Thursday, December 14th. Barclays reissued a “buy” rating and issued a $45.00 price objective (up previously from $39.00) on shares of Quidel in a report on Tuesday, September 19th. Raymond James Financial reaffirmed a “buy” rating and set a $47.00 price target (up previously from $41.00) on shares of Quidel in a report on Tuesday, September 19th. Finally, Zacks Investment Research raised shares of Quidel 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $49.60.
Shares of Quidel (NASDAQ:QDEL) opened at $45.75 on Thursday. The company has a quick ratio of 5.68, a current ratio of 6.28 and a debt-to-equity ratio of 0.70. Quidel has a twelve month low of $18.25 and a twelve month high of $46.02.
In other news, SVP Robert Joseph Bujarski sold 110,704 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.78, for a total transaction of $4,403,805.12. Following the completion of the sale, the senior vice president now owns 79,797 shares of the company’s stock, valued at approximately $3,174,324.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas C. Bryant sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $42.86, for a total transaction of $514,320.00. Following the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at approximately $12,707,689.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 347,910 shares of company stock valued at $13,958,673. 22.00% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in QDEL. Teachers Advisors LLC increased its position in Quidel by 4.6% during the 1st 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 in the last quarter. Russell Investments Group Ltd. acquired a new position in Quidel during the 2nd quarter worth approximately $209,000. Schwab Charles Investment Management Inc. increased its position in Quidel by 45.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 174,788 shares of the company’s stock worth $4,744,000 after purchasing an additional 54,206 shares in the last quarter. SG Americas Securities LLC increased its position in Quidel by 8.1% during the 2nd quarter. SG Americas Securities LLC now owns 38,347 shares of the company’s stock worth $1,041,000 after purchasing an additional 2,871 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Quidel by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock worth $197,000 after purchasing an additional 278 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.
Quidel Company Profile
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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