Quidel Co. (QDEL) Expected to Announce Earnings of $0.40 Per Share

Brokerages expect Quidel Co. (NASDAQ:QDEL) to report earnings per share of $0.40 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Quidel’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.51. Quidel reported earnings per share of $0.36 during the same quarter last year, which indicates a positive year-over-year growth rate of 11.1%. The company is expected to issue its next earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that Quidel will report full year earnings of $2.90 per share for the current fiscal year, with EPS estimates ranging from $2.83 to $2.99. For the next financial year, analysts forecast that the business will post earnings of $3.26 per share, with EPS estimates ranging from $2.92 to $3.55. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Quidel.

Quidel (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.14). Quidel had a return on equity of 26.40% and a net margin of 12.98%. The company had revenue of $148.00 million for the quarter, compared to analyst estimates of $157.61 million. During the same period in the prior year, the firm posted $1.29 earnings per share. The business’s quarterly revenue was down 12.5% compared to the same quarter last year.



A number of equities analysts have recently commented on the company. BidaskClub downgraded Quidel from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised Quidel from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective for the company in a research report on Friday, April 19th. Raymond James boosted their price objective on Quidel from $72.00 to $74.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 15th. Barclays boosted their price objective on Quidel from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Finally, ValuEngine downgraded Quidel from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $72.83.

Shares of Quidel stock opened at $57.12 on Friday. Quidel has a one year low of $44.27 and a one year high of $77.63. The stock has a market cap of $2.30 billion, a PE ratio of 20.26, a P/E/G ratio of 0.91 and a beta of 1.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 0.79.

In related news, Director Kenneth F. Buechler sold 2,002 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $60.58, for a total value of $121,281.16. Following the completion of the transaction, the director now directly owns 49,771 shares of the company’s stock, valued at $3,015,127.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas C. Bryant sold 31,443 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $65.72, for a total value of $2,066,433.96. Following the completion of the transaction, the chief executive officer now directly owns 322,006 shares of the company’s stock, valued at $21,162,234.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,600 shares of company stock valued at $17,220,781. Corporate insiders own 14.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Quidel by 16.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,353 shares of the company’s stock valued at $115,000 after purchasing an additional 333 shares in the last quarter. Advisor Group Inc. boosted its holdings in Quidel by 56.9% in the first quarter. Advisor Group Inc. now owns 1,018 shares of the company’s stock valued at $67,000 after purchasing an additional 369 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Quidel by 1.9% in the first quarter. Principal Financial Group Inc. now owns 23,232 shares of the company’s stock valued at $1,521,000 after purchasing an additional 433 shares in the last quarter. United Services Automobile Association boosted its holdings in Quidel by 7.7% in the fourth quarter. United Services Automobile Association now owns 7,914 shares of the company’s stock valued at $386,000 after purchasing an additional 566 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Quidel by 7.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,375 shares of the company’s stock valued at $745,000 after purchasing an additional 800 shares in the last quarter. 92.14% of the stock is 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, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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