Perigon Wealth Management LLC purchased a new stake in shares of Quidel Co. (NASDAQ:QDEL) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,831 shares of the company’s stock, valued at approximately $857,000.
Other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its position in Quidel by 15.9% in the second quarter. M&T Bank Corp now owns 3,136 shares of the company’s stock valued at $702,000 after buying an additional 431 shares during the last quarter. GWM Advisors LLC purchased a new stake in shares of Quidel in the second quarter valued at approximately $1,053,000. Trustcore Financial Services LLC increased its position in shares of Quidel by 73.3% in the second quarter. Trustcore Financial Services LLC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Quidel during the 2nd quarter worth approximately $348,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Quidel by 30.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,362 shares of the company’s stock valued at $976,000 after purchasing an additional 1,026 shares in the last quarter. Institutional investors and hedge funds own 87.02% of the company’s stock.
QDEL stock opened at $282.47 on Friday. The business has a 50 day simple moving average of $229.94 and a 200-day simple moving average of $139.90. The company has a market capitalization of $11.86 billion, a P/E ratio of 79.12 and a beta of 1.16. Quidel Co. has a twelve month low of $52.49 and a twelve month high of $287.88. The company has a current ratio of 2.10, a quick ratio of 1.67 and a debt-to-equity ratio of 0.15.
In other Quidel news, CEO Douglas C. Bryant purchased 5,000 shares of Quidel stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $160.33 per share, with a total value of $801,650.00. Following the acquisition, the chief executive officer now directly owns 445,823 shares of the company’s stock, valued at $71,478,801.59. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Lake Ph D. Polan sold 6,700 shares of Quidel stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $204.27, for a total value of $1,368,609.00. Following the completion of the sale, the director now owns 27,484 shares in the company, valued at $5,614,156.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,164 shares of company stock valued at $26,211,364. 14.10% of the stock is owned by insiders.
A number of brokerages have recently commented on QDEL. Craig Hallum increased their target price on shares of Quidel from $306.00 to $363.00 and gave the company a “buy” rating in a research report on Friday. Zacks Investment Research cut shares of Quidel from a “buy” rating to a “hold” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lowered shares of Quidel from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $120.00 to $158.00 in a research note on Tuesday, May 12th. Finally, Piper Sandler upped their price target on Quidel from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $177.29.
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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