BidaskClub Lowers Quidel (QDEL) to Buy

BidaskClub cut shares of Quidel (NASDAQ:QDEL) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

QDEL has been the subject of several other research reports. TheStreet lowered shares of Quidel from a b rating to a c+ rating in a research report on Wednesday, August 8th. Canaccord Genuity increased their price target on shares of Quidel from $75.00 to $78.00 and gave the stock a buy rating in a research report on Tuesday, August 14th. ValuEngine raised shares of Quidel from a buy rating to a strong-buy rating in a research report on Friday, May 18th. Zacks Investment Research lowered shares of Quidel from a strong-buy rating to a hold rating in a research report on Thursday, May 17th. Finally, Barclays increased their price target on shares of Quidel from $65.00 to $78.00 and gave the stock an overweight rating in a research report on Monday, August 6th. Eight research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Quidel has a consensus rating of Buy and an average target price of $70.14.

NASDAQ:QDEL opened at $73.38 on Tuesday. Quidel has a 12-month low of $33.01 and a 12-month high of $77.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.71. The stock has a market capitalization of $2.86 billion, a P/E ratio of 58.55, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.12. Quidel had a net margin of 4.63% and a return on equity of 19.39%. The firm had revenue of $103.16 million during the quarter, compared to analyst estimates of $102.15 million. equities analysts predict that Quidel will post 2.55 EPS for the current fiscal year.

In other Quidel news, CEO Douglas C. Bryant sold 12,000 shares of the company’s stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $66.27, for a total transaction of $795,240.00. Following the sale, the chief executive officer now directly owns 306,313 shares of the company’s stock, valued at $20,299,362.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles P. Slacik sold 1,000 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $68.28, for a total transaction of $68,280.00. Following the sale, the director now directly owns 7,820 shares in the company, valued at $533,949.60. The disclosure for this sale can be found here. Insiders have sold 213,200 shares of company stock worth $14,705,978 over the last ninety days. Insiders own 16.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of QDEL. Millennium Management LLC grew its stake in Quidel by 72.0% during the first quarter. Millennium Management LLC now owns 996,815 shares of the company’s stock worth $51,645,000 after buying an additional 417,106 shares during the last quarter. BlackRock Inc. grew its stake in Quidel by 22.2% during the second quarter. BlackRock Inc. now owns 2,188,930 shares of the company’s stock worth $145,564,000 after buying an additional 396,989 shares during the last quarter. Rothschild Asset Management Inc. bought a new stake in Quidel during the second quarter worth about $25,441,000. Point72 Asset Management L.P. grew its stake in Quidel by 139.4% during the first quarter. Point72 Asset Management L.P. now owns 636,764 shares of the company’s stock worth $32,991,000 after buying an additional 370,763 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in Quidel during the first quarter worth about $14,144,000. 88.44% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Quidel (NASDAQ:QDEL)

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