Quidel (QDEL) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Quidel (NASDAQ:QDEL) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other analysts have also weighed in on the company. Piper Jaffray Companies restated a buy rating and issued a $60.00 target price on shares of Quidel in a research note on Wednesday, January 24th. Barclays raised their target price on Quidel from $50.00 to $60.00 and gave the company an overweight rating in a research note on Monday, January 22nd. CL King upgraded Quidel from a neutral rating to a buy rating and set a $52.00 price objective for the company in a research report on Thursday, January 4th. Zacks Investment Research lowered Quidel from a hold rating to a strong sell rating in a research report on Thursday, December 28th. Finally, Canaccord Genuity reiterated a buy rating and issued a $52.00 price objective (up from $48.00) on shares of Quidel in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $53.50.

Shares of Quidel (NASDAQ:QDEL) opened at $44.92 on Wednesday. Quidel has a 12 month low of $18.25 and a 12 month high of $49.47. The firm has a market capitalization of $1,500.00, a price-to-earnings ratio of -280.75, a PEG ratio of 1.47 and a beta of 1.02. The company has a quick ratio of 5.68, a current ratio of 6.28 and a debt-to-equity ratio of 0.70.

Quidel (NASDAQ:QDEL) last announced its earnings results on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.21). Quidel had a negative net margin of 2.33% and a negative return on equity of 2.36%. The business had revenue of $50.89 million during the quarter, compared to analyst estimates of $50.47 million. During the same quarter last year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. sell-side analysts predict that Quidel will post -0.23 EPS for the current year.

In related news, Director Jack W. Schuler sold 12,000 shares of Quidel stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack W. Schuler sold 4,000 shares of Quidel stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $44.60, for a total value of $178,400.00. Following the completion of the sale, the director now owns 3,365,553 shares of the company’s stock, valued at $150,103,663.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,790 shares of company stock valued at $15,902,715. Corporate insiders own 22.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc grew its position in shares of Quidel by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock worth $197,000 after buying an additional 278 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Quidel by 162.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock worth $204,000 after buying an additional 2,875 shares during the period. Jane Street Group LLC acquired a new position in shares of Quidel during the 3rd quarter worth about $205,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Quidel during the 2nd quarter worth about $364,000. Finally, Voya Investment Management LLC grew its position in shares of Quidel by 11.1% during the 2nd quarter. Voya Investment Management LLC now owns 13,636 shares of the company’s stock worth $370,000 after buying an additional 1,366 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

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About Quidel

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.

Analyst Recommendations for Quidel (NASDAQ:QDEL)

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