Analysts Set Quidel Co. (NASDAQ:QDEL) Price Target at $71.40

Quidel Co. (NASDAQ:QDEL) has been assigned a consensus recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $71.40.

QDEL has been the topic of several research analyst reports. Raymond James lifted their price objective on Quidel from $72.00 to $74.00 and gave the company a “strong-buy” rating in a research note on Monday, April 15th. BidaskClub lowered Quidel from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research raised Quidel from a “hold” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a research report on Friday, April 19th. Barclays boosted their price target on Quidel from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Finally, ValuEngine lowered Quidel from a “buy” rating to a “hold” rating in a research report on Friday, March 1st.

In related news, Director Kenneth F. Buechler sold 2,002 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $60.58, for a total transaction of $121,281.16. Following the transaction, the director now directly owns 49,771 shares of the company’s stock, valued at approximately $3,015,127.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles P. Slacik sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $55.19, for a total value of $55,190.00. Following the transaction, the director now directly owns 8,703 shares in the company, valued at $480,318.57. The disclosure for this sale can be found here. Insiders have sold a total of 42,047 shares of company stock worth $2,725,380 over the last three months. 14.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in QDEL. Cutler Group LP purchased a new stake in Quidel during the 4th quarter worth approximately $43,000. Strs Ohio purchased a new stake in Quidel during the 1st quarter worth approximately $58,000. Advisor Group Inc. increased its holdings in Quidel by 56.9% during the 1st quarter. Advisor Group Inc. now owns 1,018 shares of the company’s stock worth $67,000 after purchasing an additional 369 shares during the last quarter. Huntington National Bank purchased a new stake in Quidel during the 1st quarter worth approximately $73,000. Finally, NumerixS Investment Technologies Inc increased its holdings in Quidel by 178.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the company’s stock worth $90,000 after purchasing an additional 897 shares during the last quarter. 91.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ QDEL traded down $0.05 during midday trading on Friday, hitting $56.09. The stock had a trading volume of 154,807 shares, compared to its average volume of 216,323. The firm has a market capitalization of $2.23 billion, a P/E ratio of 19.89, a P/E/G ratio of 0.83 and a beta of 1.38. Quidel has a 1-year low of $44.27 and a 1-year high of $77.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 0.91.

Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.14). The firm had revenue of $148.00 million during the quarter, compared to analyst estimates of $157.61 million. Quidel had a net margin of 12.98% and a return on equity of 25.33%. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. On average, equities research analysts expect that Quidel will post 2.72 EPS for the current fiscal year.

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

Read More: What does EPS mean?

Analyst Recommendations for Quidel (NASDAQ:QDEL)

Receive News & Ratings for Quidel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quidel and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit