Quidel Co. (QDEL) Stake Increased by Legal & General Group Plc

Legal & General Group Plc grew its stake in shares of Quidel Co. (NASDAQ:QDEL) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,708 shares of the company’s stock after acquiring an additional 883 shares during the period. Legal & General Group Plc’s holdings in Quidel were worth $670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of QDEL. Cutler Group LP purchased a new stake in shares of Quidel during the fourth quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Quidel by 16.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,353 shares of the company’s stock valued at $115,000 after purchasing an additional 333 shares during the period. Quantamental Technologies LLC purchased a new stake in shares of Quidel during the fourth quarter valued at $149,000. Paloma Partners Management Co purchased a new stake in shares of Quidel during the fourth quarter valued at $212,000. Finally, Jane Street Group LLC purchased a new stake in shares of Quidel during the third quarter valued at $229,000. 92.11% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Randall J. Steward sold 39,103 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $67.50, for a total value of $2,639,452.50. Following the completion of the sale, the chief financial officer now directly owns 58,562 shares of the company’s stock, valued at $3,952,935. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Edward Keith Russell sold 13,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $64.60, for a total transaction of $839,800.00. Following the completion of the sale, the vice president now directly owns 22,598 shares of the company’s stock, valued at $1,459,830.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 282,848 shares of company stock valued at $18,490,522. 16.70% of the stock is owned by insiders.

QDEL has been the subject of a number of recent analyst reports. ValuEngine raised shares of Quidel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research raised shares of Quidel from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Tuesday, January 8th. BidaskClub raised shares of Quidel from a “hold” rating to a “buy” rating in a research note on Saturday, January 12th. Finally, Craig Hallum boosted their target price on shares of Quidel from $51.00 to $63.00 and gave the company a “hold” rating in a research note on Thursday, February 14th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $72.83.

NASDAQ:QDEL opened at $62.61 on Friday. Quidel Co. has a 1-year low of $44.27 and a 1-year high of $77.63. The stock has a market capitalization of $2.49 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 0.90 and a beta of 1.37. The company has a quick ratio of 0.79, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, February 13th. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.21. Quidel had a net margin of 14.20% and a return on equity of 31.73%. The company had revenue of $132.59 million during the quarter, compared to analyst estimates of $132.26 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts predict that Quidel Co. will post 2.79 earnings per share for the current fiscal year.

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Quidel 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.

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Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

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