Quidel Co. (QDEL) Expected to Post Quarterly Sales of $132.95 Million

Wall Street brokerages forecast that Quidel Co. (NASDAQ:QDEL) will announce sales of $132.95 million for the current quarter, Zacks reports. Four analysts have issued estimates for Quidel’s earnings, with the highest sales estimate coming in at $137.30 million and the lowest estimate coming in at $130.50 million. Quidel posted sales of $114.89 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.7%. The firm is expected to report its next earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Quidel will report full year sales of $523.42 million for the current financial year, with estimates ranging from $520.20 million to $530.10 million. For the next fiscal year, analysts expect that the company will post sales of $531.26 million, with estimates ranging from $523.36 million to $536.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Quidel.

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

QDEL has been the subject of several recent research reports. TheStreet cut shares of Quidel from a “b” rating to a “c+” rating in a report on Wednesday, August 8th. Canaccord Genuity raised their target price on shares of Quidel from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Zacks Investment Research cut shares of Quidel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, BidaskClub raised shares of Quidel from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 5th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Quidel currently has an average rating of “Buy” and a consensus price target of $74.14.

In related news, Director Thomas D. Brown sold 15,600 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $70.12, for a total transaction of $1,093,872.00. Following the sale, the director now owns 61,758 shares in the company, valued at $4,330,470.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Douglas C. Bryant sold 7,217 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $65.10, for a total transaction of $469,826.70. Following the sale, the chief executive officer now owns 301,530 shares in the company, valued at approximately $19,629,603. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,667 shares of company stock worth $11,298,592. 16.70% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its position in shares of Quidel by 383.5% in the third quarter. Meeder Asset Management Inc. now owns 2,659 shares of the company’s stock valued at $173,000 after purchasing an additional 2,109 shares during the period. NewSquare Capital LLC acquired a new stake in shares of Quidel in the second quarter valued at about $178,000. Great West Life Assurance Co. Can grew its position in shares of Quidel by 55.8% in the second quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock valued at $227,000 after purchasing an additional 1,220 shares during the period. Winslow Evans & Crocker Inc. acquired a new stake in shares of Quidel in the second quarter valued at about $236,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Quidel in the first quarter valued at about $241,000. Institutional investors own 88.38% of the company’s stock.

Shares of Quidel stock opened at $66.06 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.71. Quidel has a 1 year low of $33.01 and a 1 year high of $77.63. The firm has a market cap of $2.62 billion, a P/E ratio of -943.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05.

Quidel Company Profile

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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