$107.98 Million in Sales Expected for Quidel Co. (QDEL) This Quarter

Analysts expect that Quidel Co. (NASDAQ:QDEL) will announce sales of $107.98 million for the current quarter, Zacks reports. Four analysts have provided estimates for Quidel’s earnings, with estimates ranging from $106.00 million to $110.13 million. Quidel reported sales of $103.16 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The company is scheduled to report its next earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Quidel will report full-year sales of $530.38 million for the current fiscal year, with estimates ranging from $526.60 million to $534.74 million. For the next year, analysts anticipate that the firm will post sales of $561.97 million, with estimates ranging from $558.32 million to $567.49 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Quidel.

Quidel (NASDAQ:QDEL) last announced its earnings results on Wednesday, May 8th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.14). The business had revenue of $148.00 million for the quarter, compared to the consensus estimate of $157.61 million. Quidel had a net margin of 12.98% and a return on equity of 25.33%. Quidel’s revenue was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 EPS.

Several research firms recently commented on QDEL. Zacks Investment Research raised Quidel from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Tuesday, January 22nd. BidaskClub raised Quidel from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. ValuEngine upgraded Quidel from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Craig Hallum lifted their target price on Quidel from $51.00 to $63.00 and gave the stock a “hold” rating in a report on Thursday, February 14th. Finally, Barclays restated a “buy” rating and set a $74.00 price objective on shares of Quidel in a report on Friday, February 15th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Quidel presently has an average rating of “Buy” and an average target price of $72.83.

QDEL traded down $1.10 during trading on Tuesday, reaching $55.87. The stock had a trading volume of 3,826 shares, compared to its average volume of 179,813. Quidel has a one year low of $44.27 and a one year high of $77.63. The company has a current ratio of 1.33, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 0.85 and a beta of 1.31.

In related news, SVP Robert Joseph Bujarski sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $65.01, for a total value of $975,150.00. Following the completion of the sale, the senior vice president now owns 29,685 shares of the company’s stock, valued at $1,929,821.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kenneth F. Buechler sold 2,002 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $60.58, for a total value of $121,281.16. Following the sale, the director now directly owns 49,771 shares of the company’s stock, valued at approximately $3,015,127.18. The disclosure for this sale can be found here. Insiders have sold 222,315 shares of company stock worth $14,795,603 in the last quarter. 14.10% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in QDEL. Jane Street Group LLC acquired a new stake in shares of Quidel during the 3rd quarter valued at $229,000. AQR Capital Management LLC grew its position in Quidel by 33.9% in the 3rd quarter. AQR Capital Management LLC now owns 21,997 shares of the company’s stock worth $1,434,000 after purchasing an additional 5,570 shares during the last quarter. Teachers Advisors LLC grew its position in Quidel by 1.3% in the 3rd 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. Legal & General Group Plc grew its position in Quidel by 22.2% in the 3rd quarter. Legal & General Group Plc now owns 12,825 shares of the company’s stock worth $836,000 after purchasing an additional 2,328 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Quidel by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,929,387 shares of the company’s stock worth $190,909,000 after purchasing an additional 152,702 shares during the last quarter. Hedge funds and other institutional investors own 92.31% 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, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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