Quidel (NASDAQ:QDEL) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Quidel (NASDAQ:QDEL) announced its quarterly earnings data on Thursday. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02, Briefing.com reports. Quidel had a net margin of 13.71% and a return on equity of 24.51%. The company had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $108.40 million. During the same period in the previous year, the company earned $0.36 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year.

Quidel stock traded up $2.93 during trading on Friday, reaching $58.22. 361,272 shares of the company’s stock were exchanged, compared to its average volume of 148,347. The business’s 50-day simple moving average is $57.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.33. Quidel has a 52-week low of $44.27 and a 52-week high of $77.63. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39.

In related news, Director Charles P. Slacik sold 1,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $55.19, for a total transaction of $55,190.00. Following the completion of the sale, the director now directly owns 8,703 shares of the company’s stock, valued at approximately $480,318.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Edward Keith Russell sold 13,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $57.16, for a total transaction of $743,080.00. Following the sale, the vice president now directly owns 18,401 shares of the company’s stock, valued at $1,051,801.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,750 shares of company stock valued at $5,156,267. 14.10% of the stock is owned by corporate insiders.

Several brokerages have recently issued reports on QDEL. Zacks Investment Research cut shares of Quidel from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. ValuEngine raised shares of Quidel from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Canaccord Genuity reissued a “buy” rating and set a $70.00 price objective on shares of Quidel in a research note on Monday, July 1st. Raymond James boosted their price objective on shares of Quidel from $72.00 to $74.00 and gave the company a “strong-buy” rating in a research note on Monday, April 15th. Finally, TheStreet cut shares of Quidel from a “b” rating to a “c+” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $70.60.

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

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Earnings History for Quidel (NASDAQ:QDEL)

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