ValuEngine downgraded shares of Quidel (NASDAQ:QDEL) from a hold rating to a sell rating in a report released on Friday.
Several other analysts have also weighed in on QDEL. Canaccord Genuity raised their price objective on Quidel from $75.00 to $78.00 and gave the company a buy rating in a research note on Tuesday, August 14th. Zacks Investment Research raised Quidel from a hold rating to a strong-buy rating and set a $80.00 price objective on the stock in a research note on Tuesday, August 14th. BidaskClub raised Quidel from a buy rating to a strong-buy rating in a research note on Wednesday, August 15th. Finally, Raymond James reissued a strong-buy rating and set a $80.00 price target on shares of Quidel in a research note on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $74.29.
NASDAQ:QDEL opened at $48.73 on Friday. The stock has a market capitalization of $1.92 billion, a P/E ratio of -696.14, a price-to-earnings-growth ratio of 0.75 and a beta of 1.04. The company has a current ratio of 1.26, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Quidel has a twelve month low of $39.16 and a twelve month high of $77.63.
In other news, CEO Douglas C. Bryant sold 25,250 shares of Quidel stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $65.19, for a total transaction of $1,646,047.50. Following the sale, the chief executive officer now directly owns 319,563 shares of the company’s stock, valued at $20,832,311.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Randall J. Steward sold 15,000 shares of Quidel stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $61.51, for a total value of $922,650.00. Following the sale, the chief financial officer now directly owns 16,790 shares in the company, valued at $1,032,752.90. The disclosure for this sale can be found here. Insiders have sold 78,500 shares of company stock worth $5,081,373 over the last three months. Insiders own 16.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in QDEL. Vanguard Group Inc. raised its position in shares of Quidel by 5.5% during the third quarter. Vanguard Group Inc. now owns 2,929,387 shares of the company’s stock worth $190,909,000 after acquiring an additional 152,702 shares during the last quarter. Legal & General Group Plc raised its position in shares of Quidel by 22.2% during the third quarter. Legal & General Group Plc now owns 12,825 shares of the company’s stock worth $836,000 after acquiring an additional 2,328 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Quidel by 1.3% during the third quarter. Teachers Advisors LLC now owns 71,353 shares of the company’s stock worth $4,650,000 after acquiring an additional 930 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Quidel by 33.9% during the third quarter. AQR Capital Management LLC now owns 21,997 shares of the company’s stock worth $1,434,000 after acquiring an additional 5,570 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of Quidel by 15.9% during the third quarter. Macquarie Group Ltd. now owns 963,519 shares of the company’s stock worth $62,792,000 after acquiring an additional 131,980 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.
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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