Brokerages Set Quidel Co. (NASDAQ:QDEL) PT at $75.25

Shares of Quidel Co. (NASDAQ:QDEL) have been assigned a consensus rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $75.25.

Several analysts have issued reports on QDEL shares. Canaccord Genuity reissued a “buy” rating and issued a $75.00 price target (up previously from $70.00) on shares of Quidel in a research note on Sunday, November 17th. BidaskClub upgraded Quidel from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Zacks Investment Research raised Quidel from a “sell” rating to a “hold” rating in a research report on Tuesday. Craig Hallum upgraded Quidel from a “hold” rating to a “buy” rating and boosted their target price for the company from $63.00 to $75.00 in a research note on Thursday, August 29th. Finally, TheStreet raised Quidel from a “c+” rating to a “b” rating in a research report on Friday, November 1st.

In other news, SVP Michael Donald Jr. Abney sold 8,798 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $65.00, for a total value of $571,870.00. Following the transaction, the senior vice president now owns 14,226 shares of the company’s stock, valued at $924,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Karen Gibson sold 4,527 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $67,515.00, for a total value of $305,640,405.00. Following the transaction, the senior vice president now owns 19,545 shares in the company, valued at approximately $1,319,580,675. The disclosure for this sale can be found here. Insiders have sold a total of 62,627 shares of company stock valued at $309,421,541 in the last ninety days. 14.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rothschild & Co. Asset Management US Inc. increased its position in Quidel by 3.7% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 472,419 shares of the company’s stock worth $28,024,000 after buying an additional 16,966 shares during the period. First Trust Advisors LP grew its stake in shares of Quidel by 65.9% in the second quarter. First Trust Advisors LP now owns 60,741 shares of the company’s stock valued at $3,603,000 after acquiring an additional 24,132 shares in the last quarter. Janus Henderson Group PLC increased its position in Quidel by 74.4% during the second quarter. Janus Henderson Group PLC now owns 18,960 shares of the company’s stock worth $1,125,000 after acquiring an additional 8,087 shares during the period. Public Employees Retirement Association of Colorado bought a new position in Quidel during the second quarter worth about $287,000. Finally, Kornitzer Capital Management Inc. KS raised its stake in Quidel by 12.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 111,680 shares of the company’s stock worth $6,625,000 after purchasing an additional 12,785 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Shares of QDEL stock traded up $0.68 during trading hours on Friday, hitting $68.41. 140,533 shares of the company were exchanged, compared to its average volume of 161,924. Quidel has a 52 week low of $44.27 and a 52 week high of $70.31. The company has a current ratio of 1.46, a quick ratio of 0.97 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $62.63 and a two-hundred day moving average of $59.82. The company has a market capitalization of $2.86 billion, a PE ratio of 24.26 and a beta of 1.48.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. The business had revenue of $126.50 million for the quarter, compared to analysts’ expectations of $125.52 million. Quidel had a net margin of 14.51% and a return on equity of 22.48%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. On average, research analysts forecast that Quidel will post 2.55 EPS for the current year.

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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