Chartwell Investment Partners LLC trimmed its stake in Quidel Co. (NASDAQ:QDEL) by 45.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,322 shares of the company’s stock after selling 17,530 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Quidel were worth $4,771,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in QDEL. Bank of New York Mellon Corp increased its stake in shares of Quidel by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 162,928 shares of the company’s stock worth $12,224,000 after purchasing an additional 4,372 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in Quidel by 7.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 37,755 shares of the company’s stock valued at $2,833,000 after purchasing an additional 2,719 shares during the period. Janus Henderson Group PLC increased its position in Quidel by 6.0% in the fourth quarter. Janus Henderson Group PLC now owns 24,173 shares of the company’s stock worth $1,814,000 after buying an additional 1,368 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Quidel by 0.4% in the fourth quarter. Alliancebernstein L.P. now owns 49,549 shares of the company’s stock valued at $3,718,000 after buying an additional 200 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Quidel by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 500,983 shares of the company’s stock valued at $37,588,000 after buying an additional 19,560 shares during the period. 87.02% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on QDEL. Craig Hallum lifted their price objective on Quidel from $306.00 to $363.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. downgraded shares of Quidel from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $120.00 to $158.00 in a research note on Tuesday, May 12th. Piper Sandler upped their price target on shares of Quidel from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Zacks Investment Research downgraded shares of Quidel from a “buy” rating to a “hold” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $177.29.
Quidel (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.99 by $0.16. The company had revenue of $174.65 million during the quarter, compared to analysts’ expectations of $157.12 million. Quidel had a net margin of 23.61% and a return on equity of 34.54%. Analysts expect that Quidel Co. will post 7.25 earnings per share for the current fiscal year.
In other Quidel news, CEO Douglas C. Bryant bought 5,000 shares of Quidel stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $160.33 per share, for a total transaction of $801,650.00. Following the completion of the transaction, the chief executive officer now directly owns 445,823 shares in the company, valued at $71,478,801.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Werner Kroll sold 68,152 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $174.44, for a total value of $11,888,434.88. The disclosure for this sale can be found here. Insiders have sold a total of 143,164 shares of company stock valued at $26,211,364 over the last 90 days. Company insiders own 14.10% of the company’s stock.
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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