First Light Asset Management LLC lowered its holdings in Quidel Co. (NASDAQ:QDEL) by 36.6% in the 1st quarter, HoldingsChannel reports. The firm owned 76,068 shares of the company’s stock after selling 43,833 shares during the quarter. First Light Asset Management LLC’s holdings in Quidel were worth $3,941,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of QDEL. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Quidel in the 4th quarter valued at about $156,000. Mackay Shields LLC bought a new stake in shares of Quidel in the 1st quarter valued at about $202,000. Teacher Retirement System of Texas bought a new stake in shares of Quidel in the 4th quarter valued at about $421,000. UBS Asset Management Americas Inc. raised its holdings in shares of Quidel by 173.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 13,140 shares of the company’s stock valued at $570,000 after purchasing an additional 8,341 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new stake in shares of Quidel in the 4th quarter valued at about $585,000. Institutional investors and hedge funds own 90.15% of the company’s stock.
NASDAQ QDEL opened at $65.51 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.36 and a quick ratio of 1.06. The company has a market cap of $2.42 billion, a P/E ratio of -935.86, a PEG ratio of 1.12 and a beta of 0.91. Quidel Co. has a 52 week low of $24.41 and a 52 week high of $66.99.
Several equities research analysts have recently commented on QDEL shares. Zacks Investment Research upgraded shares of Quidel from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. UBS Group upgraded shares of Quidel from an “outperform” rating to a “strong-buy” rating in a report on Thursday, March 8th. Raymond James upgraded shares of Quidel from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $55.00 to $47.00 in a report on Thursday, March 8th. BidaskClub upgraded shares of Quidel from a “hold” rating to a “buy” rating in a report on Saturday, March 10th. Finally, Craig Hallum started coverage on shares of Quidel in a report on Monday, March 26th. They issued a “buy” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and four have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $59.29.
In related news, SVP Ratan S. Borkar sold 26,555 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $65.00, for a total transaction of $1,726,075.00. Following the completion of the transaction, the senior vice president now owns 16,504 shares in the company, valued at approximately $1,072,760. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $51.63, for a total transaction of $1,858,680.00. Following the transaction, the chief executive officer now owns 306,313 shares of the company’s stock, valued at approximately $15,814,940.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,006 shares of company stock valued at $11,728,499. 16.70% of the stock is currently owned by company insiders.
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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