Piper Jaffray Companies Reiterates “Buy” Rating for Quidel Corporation (QDEL)

Quidel Corporation (NASDAQ:QDEL)‘s stock had its “buy” rating restated by equities research analysts at Piper Jaffray Companies in a research report issued on Friday. They presently have a $50.00 price target on the stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 28.04% from the company’s previous close.

Several other research analysts have also recently weighed in on QDEL. TheStreet upgraded Quidel Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, July 6th. BidaskClub cut Quidel Corporation from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded Quidel Corporation from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, July 18th. Canaccord Genuity upgraded Quidel Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 18th. Finally, William Blair upgraded Quidel Corporation from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Quidel Corporation has a consensus rating of “Buy” and a consensus target price of $48.80.

Quidel Corporation (NASDAQ QDEL) opened at $39.05 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.19 and a quick ratio of 6.46. Quidel Corporation has a 12-month low of $18.25 and a 12-month high of $45.55.

Quidel Corporation (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.21). The firm had revenue of $50.89 million for the quarter, compared to the consensus estimate of $50.47 million. Quidel Corporation had a negative return on equity of 2.38% and a negative net margin of 2.33%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. equities research analysts anticipate that Quidel Corporation will post 0.6 earnings per share for the current year.

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In related news, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $42.29, for a total value of $507,480.00. Following the transaction, the chief executive officer now owns 296,493 shares in the company, valued at $12,538,688.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $34.44, for a total value of $1,239,840.00. Following the completion of the transaction, the chief executive officer now owns 296,493 shares in the company, valued at approximately $10,211,218.92. The disclosure for this sale can be found here. Insiders sold 120,000 shares of company stock worth $4,806,240 in the last 90 days. 22.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of QDEL. American International Group Inc. increased its position in shares of Quidel Corporation by 7.1% in the first quarter. American International Group Inc. now owns 16,546 shares of the company’s stock worth $375,000 after purchasing an additional 1,099 shares during the period. Teachers Advisors LLC boosted its stake in Quidel Corporation by 4.6% in the first quarter. Teachers Advisors LLC now owns 49,537 shares of the company’s stock valued at $1,122,000 after buying an additional 2,170 shares in the last quarter. Legal & General Group Plc boosted its stake in Quidel Corporation by 4.6% in the first quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after buying an additional 306 shares in the last quarter. Vanguard Group Inc. boosted its stake in Quidel Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 2,126,552 shares of the company’s stock valued at $48,145,000 after buying an additional 87,995 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Quidel Corporation by 3.9% in the first quarter. Geode Capital Management LLC now owns 224,463 shares of the company’s stock valued at $5,081,000 after buying an additional 8,441 shares in the last quarter. Institutional investors own 86.92% of the company’s stock.

About Quidel Corporation

Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. These diagnostic testing solutions are separated into four product categories: immunoassays, molecular assays, virology and specialty products. The Company sells its products directly to end users and distributors, in each case, for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, universities, retail clinics, pharmacies and wellness screening centers.

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