Eagle Boston Investment Management Inc. boosted its holdings in shares of Quidel Co. (NASDAQ:QDEL) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 341,263 shares of the company’s stock after purchasing an additional 8,375 shares during the period. Quidel comprises approximately 1.8% of Eagle Boston Investment Management Inc.’s investment portfolio, making the stock its 6th biggest position. Eagle Boston Investment Management Inc. owned 0.92% of Quidel worth $17,680,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its stake in shares of Quidel by 80.9% in the 3rd quarter. Wells Fargo & Company MN now owns 38,975 shares of the company’s stock valued at $1,710,000 after acquiring an additional 17,431 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Quidel by 6.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 192,647 shares of the company’s stock valued at $8,352,000 after acquiring an additional 10,843 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in shares of Quidel in the 4th quarter valued at $16,097,000. Chicago Equity Partners LLC lifted its stake in shares of Quidel by 348.9% in the 4th quarter. Chicago Equity Partners LLC now owns 44,890 shares of the company’s stock valued at $1,946,000 after acquiring an additional 34,890 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Quidel in the 4th quarter valued at $421,000. Hedge funds and other institutional investors own 87.76% of the company’s stock.
Quidel opened at $63.25 on Friday, according to Marketbeat.com. The firm has a market capitalization of $2.25 billion, a P/E ratio of -903.57, a P/E/G ratio of 1.03 and a beta of 0.90. Quidel Co. has a twelve month low of $59.65 and a twelve month high of $60.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.36 and a quick ratio of 1.06.
In other Quidel news, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $51.51, for a total transaction of $618,120.00. Following the completion of the sale, the chief executive officer now directly owns 306,313 shares in the company, valued at approximately $15,778,182.63. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $44.32, for a total value of $1,595,520.00. Following the sale, the chief executive officer now owns 302,843 shares of the company’s stock, valued at $13,422,001.76. The disclosure for this sale can be found here. Insiders sold 144,000 shares of company stock valued at $7,299,360 over the last 90 days. 16.70% of the stock is currently owned by company insiders.
A number of brokerages have recently commented on QDEL. Barclays reiterated a “buy” rating and issued a $65.00 price target on shares of Quidel in a research note on Thursday, May 10th. Zacks Investment Research cut Quidel from a “strong-buy” rating to a “hold” rating in a research note on Thursday. TheStreet upgraded Quidel from a “c” rating to a “b” rating in a research note on Tuesday, May 8th. ValuEngine cut Quidel from a “hold” rating to a “sell” rating in a research note on Wednesday, March 28th. Finally, BidaskClub upgraded Quidel from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 27th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average 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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