Gabelli Funds LLC Has $31.23 Million Position in Quidel Co. (NASDAQ:QDEL)

Gabelli Funds LLC lowered its holdings in Quidel Co. (NASDAQ:QDEL) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 526,500 shares of the company’s stock after selling 17,500 shares during the quarter. Gabelli Funds LLC’s holdings in Quidel were worth $31,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. grew its position in Quidel by 7.6% in the 1st 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 during the period. Legal & General Group Plc grew its position in Quidel by 6.9% in the 4th quarter. Legal & General Group Plc now owns 13,708 shares of the company’s stock valued at $670,000 after purchasing an additional 883 shares during the period. NumerixS Investment Technologies Inc grew its position in Quidel by 178.3% in the 1st quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the company’s stock valued at $90,000 after purchasing an additional 897 shares during the period. Strs Ohio acquired a new stake in Quidel in the 1st quarter valued at $58,000. Finally, Bessemer Group Inc. grew its position in Quidel by 16.9% in the 2nd quarter. Bessemer Group Inc. now owns 9,000 shares of the company’s stock valued at $534,000 after purchasing an additional 1,300 shares during the period. 88.25% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the stock. BidaskClub downgraded shares of Quidel from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of Quidel in a report on Monday, July 1st. TheStreet downgraded shares of Quidel from a “b” rating to a “c+” rating in a report on Thursday, August 8th. ValuEngine raised shares of Quidel from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Quidel from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $70.60.



In other news, VP Edward Keith Russell sold 13,000 shares of Quidel stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $57.16, for a total transaction of $743,080.00. Following the sale, the vice president now directly owns 18,401 shares in the company, valued at approximately $1,051,801.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 21,789 shares of Quidel stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.78, for a total value of $1,258,968.42. Following the sale, the chief executive officer now owns 323,231 shares in the company, valued at $18,676,287.18. The disclosure for this sale can be found here. Insiders have sold a total of 88,750 shares of company stock worth $5,101,077 over the last ninety days. Insiders own 14.10% of the company’s stock.

QDEL traded up $0.54 during mid-day trading on Monday, reaching $62.11. 708 shares of the stock were exchanged, compared to its average volume of 214,489. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.91 and a current ratio of 1.40. The stock has a market capitalization of $2.51 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 0.90 and a beta of 1.39. The company has a 50 day moving average price of $57.98 and a two-hundred day moving average price of $60.75. Quidel Co. has a 1 year low of $44.27 and a 1 year high of $77.63.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The firm had revenue of $108.25 million for the quarter, compared to the consensus estimate of $108.40 million. Quidel had a net margin of 13.71% and a return on equity of 23.34%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. Sell-side analysts expect that Quidel Co. will post 2.69 EPS for the current fiscal year.

Quidel 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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Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

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