Quidel Co. (NASDAQ:QDEL) CEO Sells $1,258,968.42 in Stock

Quidel Co. (NASDAQ:QDEL) CEO Douglas C. Bryant sold 21,789 shares of Quidel stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.78, for a total value of $1,258,968.42. Following the completion of the transaction, the chief executive officer now owns 323,231 shares of the company’s stock, valued at $18,676,287.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of NASDAQ QDEL opened at $55.77 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.33 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $57.92. Quidel Co. has a 52-week low of $44.27 and a 52-week high of $77.63. The company has a market capitalization of $2.22 billion, a PE ratio of 19.78, a P/E/G ratio of 0.86 and a beta of 1.36.

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

A number of equities analysts recently commented on the company. ValuEngine upgraded Quidel from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub downgraded Quidel from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Raymond James lifted their price target on Quidel from $72.00 to $74.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 15th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 target price on shares of Quidel in a report on Monday, July 1st. Finally, Zacks Investment Research cut shares of Quidel from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $71.17.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. United Services Automobile Association raised its holdings in shares of Quidel by 7.7% during the fourth quarter. United Services Automobile Association now owns 7,914 shares of the company’s stock valued at $386,000 after buying an additional 566 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Quidel by 7.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,375 shares of the company’s stock valued at $745,000 after buying an additional 800 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Quidel by 6.9% during the fourth quarter. Legal & General Group Plc now owns 13,708 shares of the company’s stock valued at $670,000 after buying an additional 883 shares during the last quarter. NumerixS Investment Technologies Inc raised its holdings in shares of Quidel by 178.3% during the first quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the company’s stock valued at $90,000 after buying an additional 897 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Quidel during the first quarter valued at approximately $58,000. 91.39% of the stock is currently owned by hedge funds and other institutional investors.

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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