Other research analysts also recently issued research reports about the company. ValuEngine downgraded Quidel from a hold rating to a sell rating in a research note on Thursday, August 27th. Zacks Investment Research upgraded Quidel from a hold rating to a strong-buy rating and set a $325.00 price target for the company in a research note on Tuesday, August 4th. Craig Hallum increased their price target on Quidel from $306.00 to $363.00 and gave the stock a buy rating in a research note on Friday, July 31st. Finally, Piper Sandler increased their price objective on Quidel from $250.00 to $360.00 and gave the stock an overweight rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $209.00.
Shares of Quidel stock opened at $200.00 on Friday. The stock has a fifty day simple moving average of $209.30 and a 200 day simple moving average of $174.78. Quidel has a 12-month low of $55.25 and a 12-month high of $306.72. The company has a market capitalization of $8.39 billion, a P/E ratio of 56.02 and a beta of 0.99.
In other news, Director Edward L. Michael acquired 3,500 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were bought at an average cost of $288.12 per share, with a total value of $1,008,420.00. Following the acquisition, the director now owns 6,434 shares in the company, valued at approximately $1,853,764.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Werner Kroll sold 2,072 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $287.48, for a total value of $595,658.56. Following the transaction, the senior vice president now directly owns 4,599 shares in the company, valued at $1,322,120.52. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 20,800 shares of company stock worth $4,270,515 and sold 28,848 shares worth $8,058,196. Company insiders own 14.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in QDEL. Public Employees Retirement Association of Colorado lifted its stake in shares of Quidel by 15.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 261,895 shares of the company’s stock worth $25,616,000 after buying an additional 36,006 shares during the last quarter. Aperio Group LLC grew its stake in shares of Quidel by 123.4% in the first quarter. Aperio Group LLC now owns 7,295 shares of the company’s stock valued at $714,000 after buying an additional 4,029 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Quidel by 0.6% in the first quarter. Rhumbline Advisers now owns 52,213 shares of the company’s stock valued at $5,107,000 after buying an additional 328 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Quidel by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 168,546 shares of the company’s stock valued at $16,485,000 after buying an additional 5,618 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Quidel by 59.8% in the first quarter. Russell Investments Group Ltd. now owns 2,873 shares of the company’s stock valued at $281,000 after buying an additional 1,075 shares in the last quarter. 87.72% of the stock is currently owned by 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, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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