Quidel (QDEL) Downgraded to Sell at ValuEngine

ValuEngine downgraded shares of Quidel (NASDAQ:QDEL) from a hold rating to a sell rating in a research note released on Friday.

Several other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of Quidel from a strong-buy rating to a buy rating in a research note on Tuesday, September 11th. Canaccord Genuity increased their price objective on shares of Quidel from $78.00 to $80.00 and gave the stock a buy rating in a research note on Monday, September 10th. Raymond James reiterated a strong-buy rating and issued a $80.00 price objective on shares of Quidel in a research note on Tuesday, October 23rd. TheStreet upgraded shares of Quidel from a c+ rating to a b rating in a research note on Wednesday, November 7th. Finally, Zacks Investment Research raised shares of Quidel from a hold rating to a buy rating and set a $75.00 target price for the company in a report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $74.29.

QDEL traded down $12.59 during midday trading on Friday, hitting $48.73. 1,159,541 shares of the company traded hands, compared to its average volume of 189,770. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.26. The stock has a market capitalization of $2.41 billion, a P/E ratio of -696.14, a P/E/G ratio of 0.94 and a beta of 1.04. Quidel has a 52 week low of $39.16 and a 52 week high of $77.63.

Quidel (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.16. Quidel had a net margin of 7.26% and a return on equity of 25.63%. The firm had revenue of $117.40 million for the quarter, compared to analysts’ expectations of $120.09 million. During the same quarter in the prior year, the business earned $0.17 EPS. The business’s quarterly revenue was up 130.6% on a year-over-year basis. Research analysts forecast that Quidel will post 2.61 EPS for the current fiscal year.

In other news, CFO Randall J. Steward sold 15,000 shares of Quidel stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $61.51, for a total transaction of $922,650.00. Following the completion of the sale, the chief financial officer now directly owns 16,790 shares in the company, valued at $1,032,752.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas C. Bryant sold 25,250 shares of Quidel stock in a transaction on Friday, September 28th. The stock was sold at an average price of $65.19, for a total value of $1,646,047.50. Following the sale, the chief executive officer now owns 319,563 shares of the company’s stock, valued at $20,832,311.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,500 shares of company stock valued at $5,081,373. 16.70% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC lifted its position in shares of Quidel by 1.3% during the third quarter. Teachers Advisors LLC now owns 71,353 shares of the company’s stock worth $4,650,000 after purchasing an additional 930 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in shares of Quidel by 26.8% during the third quarter. Winslow Evans & Crocker Inc. now owns 4,470 shares of the company’s stock valued at $292,000 after buying an additional 944 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of Quidel by 3.5% during the third quarter. Essex Investment Management Co. LLC now owns 35,785 shares of the company’s stock valued at $2,332,000 after buying an additional 1,194 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Quidel by 55.8% during the second quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock valued at $227,000 after buying an additional 1,220 shares during the period. Finally, MetLife Investment Advisors LLC increased its stake in shares of Quidel by 8.8% during the second quarter. MetLife Investment Advisors LLC now owns 15,132 shares of the company’s stock valued at $1,006,000 after buying an additional 1,229 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

Quidel Company Profile

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.

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