ValuEngine Upgrades Quidel (NASDAQ:QDEL) to Hold

Quidel (NASDAQ:QDEL) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Quidel from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Raymond James boosted their price target on shares of Quidel from $72.00 to $74.00 and gave the stock a “strong-buy” rating in a report on Monday, April 15th. BidaskClub cut shares of Quidel from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $70.00 price target on shares of Quidel in a report on Monday, July 1st. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $71.17.

Shares of QDEL stock traded down $1.64 during trading on Thursday, reaching $55.77. The company’s stock had a trading volume of 157,892 shares, compared to its average volume of 116,652. 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 firm has a market cap of $2.35 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.39. The company has a 50-day simple moving average of $57.92. Quidel has a 1-year low of $44.27 and a 1-year high of $77.63.

Quidel (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.14). Quidel had a net margin of 12.98% and a return on equity of 25.33%. The business had revenue of $148.00 million during the quarter, compared to analyst estimates of $157.61 million. During the same quarter last year, the firm posted $1.29 EPS. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. Sell-side analysts anticipate that Quidel will post 2.72 EPS for the current fiscal year.

In other Quidel news, CEO Douglas C. Bryant sold 21,789 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $57.78, for a total transaction of $1,258,968.42. Following the completion of the transaction, the chief executive officer now owns 323,231 shares in the company, valued at approximately $18,676,287.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles P. Slacik sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $55.19, for a total transaction of $55,190.00. Following the transaction, the director now owns 8,703 shares of the company’s stock, valued at approximately $480,318.57. The disclosure for this sale can be found here. Insiders have sold a total of 91,752 shares of company stock valued at $5,277,549 in the last quarter. 14.10% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Quidel by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 387,877 shares of the company’s stock worth $18,936,000 after buying an additional 27,954 shares during the last quarter. GYL Financial Synergies LLC purchased a new stake in shares of Quidel during the 1st quarter worth approximately $1,050,000. Dimensional Fund Advisors LP lifted its position in shares of Quidel by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 861,159 shares of the company’s stock worth $42,041,000 after buying an additional 17,041 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Quidel during the 4th quarter worth approximately $1,238,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Quidel by 836.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,841 shares of the company’s stock worth $513,000 after buying an additional 7,004 shares during the last quarter. Institutional investors and hedge funds own 91.39% of the company’s stock.

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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Analyst Recommendations for Quidel (NASDAQ:QDEL)

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