Zacks: Analysts Anticipate Quidel Co. (QDEL) Will Post Earnings of $0.66 Per Share

Wall Street brokerages expect Quidel Co. (NASDAQ:QDEL) to report earnings of $0.66 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Quidel’s earnings. The highest EPS estimate is $0.74 and the lowest is $0.56. Quidel reported earnings of ($0.11) per share in the same quarter last year, which suggests a positive year over year growth rate of 700%. The firm is expected to report its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that Quidel will report full-year earnings of $2.85 per share for the current financial year, with EPS estimates ranging from $2.74 to $2.93. For the next financial year, analysts anticipate that the firm will report earnings of $2.99 per share, with EPS estimates ranging from $2.83 to $3.19. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Quidel.

Quidel (NASDAQ:QDEL) last posted its earnings results on Tuesday, November 6th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. Quidel had a return on equity of 27.28% and a net margin of 7.26%. The business had revenue of $117.40 million during the quarter, compared to analyst estimates of $120.09 million. During the same quarter last year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 130.6% compared to the same quarter last year.

QDEL has been the subject of a number of recent research reports. TheStreet lowered Quidel from a “b” rating to a “c+” rating in a research note on Wednesday, August 8th. Canaccord Genuity increased their target price on Quidel from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Zacks Investment Research lowered Quidel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. BidaskClub upgraded Quidel from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 5th. Finally, Barclays increased their target price on Quidel from $65.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Quidel presently has an average rating of “Buy” and an average price target of $74.14.

In other Quidel news, Director Mary Lake Ph D. Polan sold 3,886 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $70.01, for a total transaction of $272,058.86. Following the completion of the sale, the director now owns 29,653 shares in the company, valued at approximately $2,076,006.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Edward Keith Russell sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $72.29, for a total value of $939,770.00. Following the sale, the vice president now owns 16,493 shares of the company’s stock, valued at approximately $1,192,278.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,667 shares of company stock valued at $11,298,592. 16.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of QDEL. Eagle Asset Management Inc. grew its stake in Quidel by 225.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 652,048 shares of the company’s stock valued at $42,493,000 after purchasing an additional 451,940 shares in the last quarter. BlackRock Inc. grew its stake in Quidel by 22.2% during the 2nd quarter. BlackRock Inc. now owns 2,188,930 shares of the company’s stock valued at $145,564,000 after purchasing an additional 396,989 shares in the last quarter. Rothschild Asset Management Inc. acquired a new stake in Quidel during the 2nd quarter valued at approximately $25,441,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Quidel during the 2nd quarter valued at approximately $12,857,000. Finally, Pier Capital LLC acquired a new stake in Quidel during the 2nd quarter valued at approximately $7,583,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Shares of QDEL stock traded down $2.34 during trading hours on Friday, reaching $66.06. The company had a trading volume of 246,200 shares, compared to its average volume of 311,474. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.71 and a current ratio of 1.10. Quidel has a twelve month low of $33.01 and a twelve month high of $77.63. The firm has a market cap of $2.60 billion, a P/E ratio of -943.71, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05.

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 products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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