The Manufacturers Life Insurance Company Raises Position in Quidel Corporation (QDEL)

The Manufacturers Life Insurance Company raised its position in shares of Quidel Corporation (NASDAQ:QDEL) by 1.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,831 shares of the company’s stock after purchasing an additional 333 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Quidel Corporation worth $593,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in QDEL. Teachers Advisors LLC increased its stake in Quidel Corporation by 4.6% during the 1st quarter. Teachers Advisors LLC now owns 49,537 shares of the company’s stock valued at $1,122,000 after purchasing an additional 2,170 shares in the last quarter. Legal & General Group Plc increased its stake in Quidel Corporation by 4.6% during the 1st quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after purchasing an additional 306 shares in the last quarter. Vanguard Group Inc. increased its stake in Quidel Corporation by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 2,126,552 shares of the company’s stock valued at $48,145,000 after purchasing an additional 87,995 shares in the last quarter. Geode Capital Management LLC increased its stake in Quidel Corporation by 3.9% during the 1st quarter. Geode Capital Management LLC now owns 224,463 shares of the company’s stock valued at $5,081,000 after purchasing an additional 8,441 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Quidel Corporation by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 120,582 shares of the company’s stock valued at $2,730,000 after purchasing an additional 6,480 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

In related news, SVP Werner Kroll sold 7,565 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $39.50, for a total value of $298,817.50. Following the transaction, the senior vice president now owns 10,261 shares of the company’s stock, valued at $405,309.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $42.91, for a total transaction of $1,544,760.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at approximately $12,722,514.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,530 shares of company stock worth $5,414,976. Insiders own 22.00% of the company’s stock.

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Shares of Quidel Corporation (NASDAQ:QDEL) opened at $39.00 on Wednesday. The company has a current ratio of 6.28, a quick ratio of 5.68 and a debt-to-equity ratio of 0.70. Quidel Corporation has a 1-year low of $18.25 and a 1-year high of $45.55.

Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.21). The company had revenue of $50.89 million for the quarter, compared to analysts’ expectations of $50.47 million. Quidel Corporation had a negative net margin of 2.33% and a negative return on equity of 2.36%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. sell-side analysts forecast that Quidel Corporation will post 0.6 earnings per share for the current year.

A number of analysts have weighed in on QDEL shares. Zacks Investment Research lowered shares of Quidel Corporation from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 29th. BidaskClub lowered shares of Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Barclays PLC raised their price objective on shares of Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. restated a “buy” rating and set a $47.00 price objective (up from $41.00) on shares of Quidel Corporation in a research note on Tuesday, September 19th. Finally, Canaccord Genuity restated a “buy” rating and set a $48.00 price objective (up from $42.00) on shares of Quidel Corporation in a research note on Tuesday, September 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $48.80.

Quidel Corporation Company Profile

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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Institutional Ownership by Quarter for Quidel Corporation (NASDAQ:QDEL)

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