Quidel (QDEL) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of Quidel (NASDAQ:QDEL) from a buy rating to a strong-buy rating in a research note released on Tuesday morning.

A number of other equities analysts also recently weighed in on QDEL. Craig Hallum assumed coverage on Quidel in a research report on Monday, March 26th. They set a buy rating and a $62.00 price target for the company. UBS raised Quidel from an outperform rating to a strong-buy rating in a research report on Thursday, March 8th. Piper Jaffray reaffirmed a buy rating and set a $60.00 price target on shares of Quidel in a research report on Wednesday, January 24th. Raymond James Financial raised Quidel from an outperform rating to a strong-buy rating and reduced their price target for the stock from $55.00 to $47.00 in a research report on Thursday, March 8th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $52.00 price target (up previously from $48.00) on shares of Quidel in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Quidel currently has a consensus rating of Buy and an average target price of $54.71.

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NASDAQ:QDEL opened at $51.81 on Tuesday. Quidel has a twelve month low of $21.83 and a twelve month high of $53.08. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.58 and a quick ratio of 2.06. The company has a market cap of $1,805.71, a price-to-earnings ratio of -740.14, a PEG ratio of 0.89 and a beta of 1.03.

Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.70. Quidel had a negative return on equity of 3.02% and a negative net margin of 2.94%. The firm had revenue of $114.90 million during the quarter, compared to the consensus estimate of $115.06 million. During the same quarter in the prior year, the firm posted $0.17 EPS. The business’s revenue was up 117.6% on a year-over-year basis. sell-side analysts forecast that Quidel will post 2.34 earnings per share for the current fiscal year.

In other news, SVP Ratan S. Borkar sold 29,880 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $45.15, for a total value of $1,349,082.00. Following the completion of the sale, the senior vice president now owns 20,253 shares of the company’s stock, valued at approximately $914,422.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $44.32, for a total value of $1,595,520.00. Following the completion of the sale, the chief executive officer now directly owns 302,843 shares of the company’s stock, valued at approximately $13,422,001.76. The disclosure for this sale can be found here. In the last three months, insiders sold 153,880 shares of company stock valued at $7,288,882. 22.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of Quidel in the 4th quarter valued at approximately $603,000. Macquarie Group Ltd. boosted its holdings in shares of Quidel by 12.7% in the 4th quarter. Macquarie Group Ltd. now owns 1,132,743 shares of the company’s stock valued at $49,105,000 after buying an additional 128,081 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Quidel by 2,374.6% in the 4th quarter. Millennium Management LLC now owns 579,709 shares of the company’s stock valued at $25,130,000 after buying an additional 556,283 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Quidel in the 4th quarter valued at approximately $156,000. Finally, York Capital Management Global Advisors LLC boosted its holdings in shares of Quidel by 50.2% in the 4th quarter. York Capital Management Global Advisors LLC now owns 120,371 shares of the company’s stock valued at $5,218,000 after buying an additional 40,243 shares during the last quarter. 93.28% of the stock is owned by institutional investors.

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Quidel Company Profile

Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. These diagnostic testing solutions are separated into four product categories: immunoassays, molecular assays, virology and specialty products. The Company sells its products directly to end users and distributors, in each case, for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, universities, retail clinics, pharmacies and wellness screening centers.

Analyst Recommendations for Quidel (NASDAQ:QDEL)

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