Quidel Co. (QDEL) SVP Ratan S. Borkar Sells 26,555 Shares of Stock

Quidel Co. (NASDAQ:QDEL) SVP Ratan S. Borkar sold 26,555 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $65.00, for a total transaction of $1,726,075.00. Following the completion of the transaction, the senior vice president now owns 16,504 shares in the company, valued at approximately $1,072,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Quidel stock traded up $2.02 during midday trading on Thursday, reaching $67.53. 6,390 shares of the company traded hands, compared to its average volume of 355,813. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -964.14, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. Quidel Co. has a 12 month low of $24.41 and a 12 month high of $66.99. The company has a quick ratio of 1.06, a current ratio of 1.36 and a debt-to-equity ratio of 0.40.

Quidel (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.28. The company had revenue of $169.10 million for the quarter, compared to the consensus estimate of $151.50 million. Quidel had a net margin of 3.08% and a return on equity of 12.54%. The firm’s revenue for the quarter was up 129.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. sell-side analysts expect that Quidel Co. will post 2.3 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System increased its holdings in Quidel by 2.9% during the fourth quarter. California Public Employees Retirement System now owns 59,799 shares of the company’s stock valued at $2,592,000 after buying an additional 1,696 shares during the last quarter. Chicago Equity Partners LLC increased its holdings in Quidel by 4.8% during the first quarter. Chicago Equity Partners LLC now owns 47,060 shares of the company’s stock valued at $2,438,000 after buying an additional 2,170 shares during the last quarter. Gagnon Securities LLC increased its holdings in Quidel by 8.5% during the first quarter. Gagnon Securities LLC now owns 30,040 shares of the company’s stock valued at $1,556,000 after buying an additional 2,353 shares during the last quarter. Swiss National Bank increased its holdings in Quidel by 5.1% during the first quarter. Swiss National Bank now owns 49,600 shares of the company’s stock valued at $2,570,000 after buying an additional 2,400 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in Quidel by 1.0% during the first quarter. Loomis Sayles & Co. L P now owns 263,801 shares of the company’s stock valued at $13,668,000 after buying an additional 2,519 shares during the last quarter. Institutional investors own 90.15% of the company’s stock.

Several brokerages have recently issued reports on QDEL. ValuEngine upgraded shares of Quidel from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 18th. Zacks Investment Research downgraded shares of Quidel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 17th. TheStreet upgraded shares of Quidel from a “c” rating to a “b” rating in a research note on Tuesday, May 8th. Barclays reiterated a “buy” rating and issued a $65.00 target price on shares of Quidel in a research note on Thursday, May 10th. Finally, William Blair reiterated a “buy” rating on shares of Quidel in a research note on Friday, April 13th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and four have issued a strong buy rating to the company. Quidel currently has a consensus rating of “Buy” and a consensus target price of $59.29.

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 products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

Insider Buying and Selling by Quarter for Quidel (NASDAQ:QDEL)

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