Quidel (NASDAQ:QDEL) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Quidel (NASDAQ:QDEL) from a hold rating to a buy rating in a research report sent to investors on Friday morning, BidAskClub reports.

QDEL has been the topic of a number of other reports. ValuEngine cut Quidel from a hold rating to a sell rating in a research report on Thursday, August 27th. Piper Sandler boosted their price target on Quidel from $250.00 to $360.00 and gave the stock an overweight rating in a research report on Friday, July 31st. Zacks Investment Research raised Quidel from a hold rating to a strong-buy rating and set a $325.00 price target on the stock in a research report on Tuesday, August 4th. Finally, Craig Hallum boosted their price target on Quidel from $306.00 to $363.00 and gave the stock a buy rating in a research report on Friday, July 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $209.00.

QDEL stock opened at $189.31 on Friday. Quidel has a fifty-two week low of $55.25 and a fifty-two week high of $306.72. The business’s 50 day moving average price is $214.65 and its two-hundred day moving average price is $173.12. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 53.03 and a beta of 0.99.

Quidel (NASDAQ:QDEL) last posted its earnings results on Thursday, July 30th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.65. Quidel had a return on equity of 33.86% and a net margin of 23.61%. The firm had revenue of $201.75 million for the quarter, compared to the consensus estimate of $201.40 million. Research analysts forecast that Quidel will post 11.96 earnings per share for the current year.

In related news, SVP Werner Kroll sold 2,072 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $287.48, for a total value of $595,658.56. Following the transaction, the senior vice president now directly owns 4,599 shares of the company’s stock, valued at approximately $1,322,120.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Randall J. Steward sold 21,166 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $286.31, for a total transaction of $6,060,037.46. Following the sale, the chief financial officer now owns 12,623 shares of the company’s stock, valued at $3,614,091.13. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 20,800 shares of company stock worth $4,270,515 and sold 28,848 shares worth $8,058,196. Corporate insiders own 14.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtus Alternative Investment Advisers Inc. purchased a new stake in Quidel during the 2nd quarter valued at $27,000. CSat Investment Advisory L.P. purchased a new stake in Quidel during the 2nd quarter valued at $29,000. Trustcore Financial Services LLC raised its stake in Quidel by 73.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 55 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Quidel during the 2nd quarter valued at $31,000. Finally, Valeo Financial Advisors LLC raised its stake in Quidel by 144.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 169 shares of the company’s stock valued at $38,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 87.72% 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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