York Capital Management Global Advisors LLC boosted its stake in shares of Quidel Co. (NASDAQ:QDEL) by 50.2% in the 4th quarter, HoldingsChannel reports. The fund owned 120,371 shares of the company’s stock after buying an additional 40,243 shares during the period. York Capital Management Global Advisors LLC’s holdings in Quidel were worth $5,218,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Quidel by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 21,831 shares of the company’s stock valued at $593,000 after purchasing an additional 333 shares during the period. American International Group Inc. grew its holdings in Quidel by 8.1% in the third quarter. American International Group Inc. now owns 18,605 shares of the company’s stock valued at $816,000 after purchasing an additional 1,390 shares during the period. California Public Employees Retirement System grew its holdings in Quidel by 2.9% in the fourth quarter. California Public Employees Retirement System now owns 59,799 shares of the company’s stock valued at $2,592,000 after purchasing an additional 1,696 shares during the period. Swiss National Bank grew its holdings in Quidel by 4.2% in the third quarter. Swiss National Bank now owns 47,200 shares of the company’s stock valued at $2,070,000 after purchasing an additional 1,900 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in Quidel by 162.7% in the third quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock valued at $204,000 after purchasing an additional 2,875 shares during the period. Institutional investors own 93.37% of the company’s stock.
Several analysts have commented on the company. BidaskClub raised Quidel from a “hold” rating to a “buy” rating in a report on Saturday. Raymond James Financial raised Quidel from an “outperform” rating to a “strong-buy” rating and lowered their price target for the stock from $55.00 to $47.00 in a research note on Thursday, March 8th. UBS Group raised Quidel from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, March 8th. Zacks Investment Research raised Quidel from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $60.00 price target on shares of Quidel in a research note on Wednesday, January 24th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Quidel presently has a consensus rating of “Buy” and an average target price of $53.50.
Quidel (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.70. The firm had revenue of $114.90 million for the quarter, compared to analyst estimates of $115.06 million. Quidel had a negative return on equity of 3.02% and a negative net margin of 2.94%. The business’s revenue was up 117.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. analysts forecast that Quidel Co. will post 1.22 earnings per share for the current year.
In other Quidel news, SVP Robert Joseph Bujarski sold 110,704 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $39.78, for a total transaction of $4,403,805.12. Following the transaction, the senior vice president now owns 79,797 shares of the company’s stock, valued at $3,174,324.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $44.10, for a total value of $1,587,600.00. Following the transaction, the chief executive officer now directly owns 286,493 shares in the company, valued at approximately $12,634,341.30. The disclosure for this sale can be found here. Insiders sold 280,584 shares of company stock worth $12,045,327 over the last ninety days. Corporate insiders own 22.00% of the company’s stock.
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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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