Quidel Co. (QDEL) Receives $74.29 Consensus Target Price from Analysts

Shares of Quidel Co. (NASDAQ:QDEL) have received a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $74.29.

Several equities research analysts have recently weighed in on QDEL shares. Barclays upped their target price on shares of Quidel from $65.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, August 6th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $74.00 target price on shares of Quidel in a report on Wednesday, August 8th. Craig Hallum upped their target price on shares of Quidel from $64.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. TheStreet lowered shares of Quidel from a “b” rating to a “c+” rating in a report on Wednesday, August 8th. Finally, Canaccord Genuity increased their price objective on shares of Quidel from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th.

Shares of QDEL traded up $0.10 during trading hours on Monday, hitting $58.93. The stock had a trading volume of 139,794 shares, compared to its average volume of 304,850. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.26. Quidel has a 52 week low of $33.01 and a 52 week high of $77.63. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -841.86, a PEG ratio of 0.90 and a beta of 1.05.

Quidel (NASDAQ:QDEL) last posted its earnings results on Tuesday, November 6th. The company reported $0.59 earnings per share 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 25.63%. The business had revenue of $117.40 million for the quarter, compared to analyst estimates of $120.09 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up 130.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Quidel will post 2.61 EPS for the current fiscal year.

In other Quidel news, VP Edward Keith Russell sold 13,000 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $72.29, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth F. Buechler sold 5,000 shares of the stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $75.01, for a total transaction of $375,050.00. Following the sale, the director now directly owns 53,519 shares in the company, valued at approximately $4,014,460.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,467 shares of company stock worth $3,430,694. Insiders own 16.70% of the company’s stock.

A number of large investors have recently modified their holdings of the business. NewSquare Capital LLC bought a new position in shares of Quidel in the 2nd quarter valued at about $178,000. Meeder Asset Management Inc. boosted its stake in shares of Quidel by 383.5% in the 3rd 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 last quarter. Alambic Investment Management L.P. bought a new position in shares of Quidel in the 3rd quarter valued at about $205,000. Great West Life Assurance Co. Can boosted its stake in shares of Quidel by 55.8% in the 2nd 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 last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Quidel in the 3rd quarter valued at about $224,000. 90.08% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Quidel (NASDAQ:QDEL)

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