Quidel (NASDAQ:QDEL) Downgraded by BidaskClub

BidaskClub downgraded shares of Quidel (NASDAQ:QDEL) from a buy rating to a hold rating in a research report report published on Tuesday, BidAskClub reports.

QDEL has been the subject of a number of other reports. Zacks Investment Research upgraded HAYS PLC/ADR from a sell rating to a hold rating in a research report on Tuesday, June 18th. Barclays restated a buy rating and set a $304.00 price objective on shares of Adobe in a research report on Monday, March 18th. Raymond James restated an average rating and set a $23.00 price objective on shares of in a research report on Monday, April 15th. Canaccord Genuity restated a speculative buy rating and set a GBX 70 ($0.91) price objective on shares of Bacanora Lithium in a research report on Monday, July 1st. Finally, ValuEngine lowered Intersect ENT from a buy rating to a hold rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $71.17.

NASDAQ:QDEL opened at $57.73 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 0.91. Quidel has a 1-year low of $44.27 and a 1-year high of $77.63. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 0.84 and a beta of 1.36. The company has a fifty day moving average of $57.14.



Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.14). Quidel had a net margin of 12.98% and a return on equity of 25.33%. The company had revenue of $148.00 million during the quarter, compared to analyst estimates of $157.61 million. During the same quarter last year, the business earned $1.29 EPS. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, analysts anticipate that Quidel will post 2.72 EPS for the current year.

In other news, Director Charles P. Slacik sold 1,000 shares of Quidel stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $55.19, for a total transaction of $55,190.00. Following the completion of the sale, the director now directly owns 8,703 shares in the company, valued at approximately $480,318.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas C. Bryant sold 28,711 shares of Quidel stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $57.59, for a total value of $1,653,466.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,963 shares of company stock valued at $4,018,580. 14.10% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Mackay Shields LLC acquired a new stake in shares of Quidel during the 4th quarter valued at about $1,039,000. Geode Capital Management LLC raised its stake in shares of Quidel by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 387,877 shares of the company’s stock valued at $18,936,000 after acquiring an additional 27,954 shares in the last quarter. GYL Financial Synergies LLC bought a new position in shares of Quidel in the 1st quarter valued at approximately $1,050,000. Dimensional Fund Advisors LP raised its stake in shares of Quidel by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 861,159 shares of the company’s stock valued at $42,041,000 after acquiring an additional 17,041 shares in the last quarter. Finally, Martingale Asset Management L P bought a new position in shares of Quidel in the 4th quarter valued at approximately $1,143,000. Institutional investors and hedge funds own 91.40% of the company’s stock.

About Quidel

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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Analyst Recommendations for Quidel (NASDAQ:QDEL)

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