Quidel Co. (QDEL) CEO Sells $51,698.85 in Stock

Quidel Co. (NASDAQ:QDEL) CEO Douglas C. Bryant sold 795 shares of Quidel stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $65.03, for a total value of $51,698.85. Following the sale, the chief executive officer now directly owns 302,237 shares of the company’s stock, valued at approximately $19,654,472.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of NASDAQ:QDEL traded down $0.36 during midday trading on Friday, hitting $59.48. 193,774 shares of the stock were exchanged, compared to its average volume of 162,248. The stock has a market cap of $2.37 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12. Quidel Co. has a 12 month low of $44.27 and a 12 month high of $77.63.

Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 13th. The company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.21. The company had revenue of $132.59 million for the quarter, compared to analysts’ expectations of $132.26 million. Quidel had a return on equity of 31.73% and a net margin of 14.20%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, equities analysts forecast that Quidel Co. will post 2.79 EPS for the current year.

QDEL has been the subject of a number of research reports. Zacks Investment Research raised Quidel from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, February 5th. ValuEngine upgraded Quidel from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. BidaskClub upgraded Quidel from a “hold” rating to a “buy” rating in a research report on Saturday, January 12th. Barclays restated a “buy” rating and issued a $74.00 price target on shares of Quidel in a research report on Friday, February 15th. Finally, Craig Hallum raised their price target on Quidel from $51.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, February 14th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Quidel presently has a consensus rating of “Buy” and an average target price of $72.83.

Several large investors have recently added to or reduced their stakes in QDEL. Norges Bank bought a new stake in shares of Quidel during the fourth quarter worth about $34,899,000. Carillon Tower Advisers Inc. acquired a new position in shares of Quidel in the third quarter worth approximately $25,294,000. AMI Asset Management Corp acquired a new position in shares of Quidel in the fourth quarter worth approximately $9,970,000. Vanguard Group Inc lifted its stake in shares of Quidel by 5.5% in the third quarter. Vanguard Group Inc now owns 2,929,387 shares of the company’s stock worth $190,909,000 after acquiring an additional 152,702 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Quidel by 5.5% in the third quarter. Vanguard Group Inc. now owns 2,929,387 shares of the company’s stock worth $190,909,000 after acquiring an additional 152,702 shares during the period. Institutional investors own 92.88% of the company’s stock.

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

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