BidaskClub upgraded shares of Quidel (NASDAQ:QDEL) from a sell rating to a hold rating in a research note released on Saturday.
A number of other research firms have also recently commented on QDEL. Raymond James Financial reiterated a buy rating and issued a $47.00 price target (up from $41.00) on shares of Quidel in a research note on Tuesday, September 19th. Zacks Investment Research cut Quidel from a buy rating to a hold rating in a research note on Tuesday, November 7th. Barclays increased their price target on Quidel from $45.00 to $49.00 and gave the company an overweight rating in a research note on Thursday, November 2nd. Canaccord Genuity reiterated a buy rating and issued a $48.00 price target (up from $42.00) on shares of Quidel in a research note on Tuesday, September 19th. Finally, Piper Jaffray Companies upgraded Quidel from a neutral rating to an overweight rating and increased their price target for the company from $35.00 to $50.00 in a research note on Tuesday, September 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $48.80.
Quidel (NASDAQ QDEL) traded up $1.16 during trading on Friday, reaching $39.15. The company’s stock had a trading volume of 480,966 shares, compared to its average volume of 439,866. The company has a debt-to-equity ratio of 0.70, a current ratio of 6.28 and a quick ratio of 5.68. Quidel has a 52 week low of $18.25 and a 52 week high of $45.55.
In other news, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $42.86, for a total value of $514,320.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at $12,707,689.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $42.91, for a total value of $1,544,760.00. Following the completion of the transaction, the chief executive officer now owns 296,493 shares of the company’s stock, valued at $12,722,514.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,530 shares of company stock valued at $5,960,736. Company insiders own 22.00% of the company’s stock.
Large investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC raised its stake in shares of Quidel by 1.1% in the second quarter. TIAA CREF Investment Management LLC now owns 99,227 shares of the company’s stock worth $2,693,000 after purchasing an additional 1,062 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Quidel by 8.1% in the second quarter. SG Americas Securities LLC now owns 38,347 shares of the company’s stock worth $1,041,000 after purchasing an additional 2,871 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Quidel by 45.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 174,788 shares of the company’s stock worth $4,744,000 after purchasing an additional 54,206 shares during the last quarter. Harvest Management LLC purchased a new position in shares of Quidel in the third quarter worth about $702,000. Finally, Northern Trust Corp raised its position in Quidel by 6.9% during the second quarter. Northern Trust Corp now owns 377,707 shares of the company’s stock valued at $10,250,000 after acquiring an additional 24,453 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.
Quidel 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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