First Mercantile Trust Co. trimmed its position in shares of Quidel Co. (NASDAQ:QDEL) by 13.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,805 shares of the company’s stock after selling 280 shares during the period. First Mercantile Trust Co.’s holdings in Quidel were worth $118,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in QDEL. Cutler Group LP acquired a new stake in shares of Quidel during the 4th quarter worth $43,000. Strs Ohio acquired a new stake in shares of Quidel during the 1st quarter worth $58,000. Huntington National Bank acquired a new stake in shares of Quidel during the 1st quarter worth $73,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Quidel by 16.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,353 shares of the company’s stock worth $115,000 after buying an additional 333 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of Quidel during the 4th quarter worth $149,000. Institutional investors and hedge funds own 92.31% of the company’s stock.
Shares of Quidel stock opened at $55.88 on Wednesday. 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 Co. has a twelve month low of $44.27 and a twelve month high of $77.63. The firm has a market cap of $2.23 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 0.82 and a beta of 1.31.
QDEL has been the subject of a number of research reports. BidaskClub cut shares of Quidel from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Zacks Investment Research raised shares of Quidel from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, February 5th. ValuEngine raised shares of Quidel from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Barclays reaffirmed a “buy” rating and set a $74.00 price target on shares of Quidel in a research report on Friday, February 15th. Finally, Craig Hallum upped their price target on shares of Quidel from $51.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, February 14th. Three 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. The company currently has a consensus rating of “Buy” and an average price target of $72.83.
In other Quidel news, VP Edward Keith Russell sold 13,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $64.60, for a total value of $839,800.00. Following the completion of the transaction, the vice president now directly owns 22,598 shares of the company’s stock, valued at approximately $1,459,830.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Karen Gibson sold 16,000 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $66.57, for a total transaction of $1,065,120.00. Following the completion of the transaction, the senior vice president now directly owns 7,545 shares of the company’s stock, valued at $502,270.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 192,866 shares of company stock valued at $12,806,567. 14.10% of the stock is currently owned by corporate insiders.
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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