Raymond James & Associates reduced its stake in Quidel Co. (NASDAQ:QDEL) by 53.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 15,991 shares of the company’s stock after selling 18,026 shares during the quarter. Raymond James & Associates’ holdings in Quidel were worth $1,063,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Castle Rock Wealth Management LLC bought a new position in shares of Quidel in the second quarter worth approximately $327,000. OppenheimerFunds Inc. increased its position in shares of Quidel by 4.9% in the second quarter. OppenheimerFunds Inc. now owns 902,018 shares of the company’s stock worth $59,984,000 after purchasing an additional 41,789 shares during the last quarter. Gardner Lewis Asset Management L P increased its position in shares of Quidel by 3.1% in the second quarter. Gardner Lewis Asset Management L P now owns 78,425 shares of the company’s stock worth $5,215,000 after purchasing an additional 2,345 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of Quidel in the second quarter worth approximately $427,000. Finally, Federated Investors Inc. PA increased its position in shares of Quidel by 51.4% in the second quarter. Federated Investors Inc. PA now owns 48,529 shares of the company’s stock worth $3,227,000 after purchasing an additional 16,485 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors.
In other news, SVP Robert Joseph Bujarski sold 38,550 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $70.15, for a total transaction of $2,704,282.50. Following the completion of the sale, the senior vice president now owns 26,153 shares of the company’s stock, valued at $1,834,632.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Randall J. Steward sold 38,162 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $70.15, for a total value of $2,677,064.30. Following the sale, the chief financial officer now directly owns 69,952 shares of the company’s stock, valued at approximately $4,907,132.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,667 shares of company stock valued at $11,298,592. Insiders own 16.70% of the company’s stock.
Several analysts have issued reports on QDEL shares. Craig Hallum upped their target price on Quidel from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research lowered Quidel from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub raised Quidel from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 5th. Raymond James reaffirmed a “strong-buy” rating and issued a $80.00 target price on shares of Quidel in a research note on Tuesday, October 23rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $74.00 target price on shares of Quidel in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Quidel currently has an average rating of “Buy” and an average price target of $74.14.
QDEL traded down $2.34 during midday trading on Friday, hitting $66.06. The stock had a trading volume of 246,241 shares, compared to its average volume of 224,066. The firm has a market cap of $2.62 billion, a P/E ratio of -943.71, a P/E/G ratio of 1.05 and a beta of 1.05. 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 Co. has a 1 year low of $33.01 and a 1 year high of $77.63.
Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $117.40 million during the quarter, compared to analyst estimates of $120.09 million. Quidel had a return on equity of 27.28% and a net margin of 7.26%. The business’s quarterly revenue was up 130.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 earnings per share. On average, equities analysts anticipate that Quidel Co. will post 2.55 earnings per share for the current year.
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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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