Quidel (QDEL) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Quidel (NASDAQ:QDEL) from a hold rating to a buy rating in a report issued on Friday morning.

QDEL has been the topic of a number of other research reports. TheStreet downgraded shares of Quidel from a b rating to a c+ rating in a report on Wednesday, August 8th. Canaccord Genuity raised their price objective on shares of Quidel from $78.00 to $80.00 and gave the stock a buy rating in a report on Monday, September 10th. Zacks Investment Research downgraded shares of Quidel from a strong-buy rating to a hold rating in a report on Wednesday. Barclays raised their price objective on shares of Quidel from $65.00 to $78.00 and gave the stock an overweight rating in a report on Monday, August 6th. Finally, ValuEngine downgraded shares of Quidel from a strong-buy rating to a buy rating in a report on Thursday, July 19th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $70.14.

Shares of QDEL traded up $0.63 on Friday, reaching $63.70. The company’s stock had a trading volume of 243,891 shares, compared to its average volume of 320,211. The company has a current ratio of 1.10, a quick ratio of 0.71 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -910.00, a PEG ratio of 1.04 and a beta of 1.00. Quidel has a 12-month low of $33.01 and a 12-month high of $77.63.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. The company had revenue of $103.16 million for the quarter, compared to the consensus estimate of $102.15 million. Quidel had a net margin of 4.63% and a return on equity of 19.39%. As a group, analysts predict that Quidel will post 2.51 EPS for the current fiscal year.

In other Quidel news, CEO Douglas C. Bryant sold 25,250 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were 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 owns 319,563 shares in the company, valued at approximately $20,832,311.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kenneth F. Buechler sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 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 90 days, insiders have sold 180,450 shares of company stock worth $12,498,085. 16.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewSquare Capital LLC bought a new stake in shares of Quidel during the second quarter valued at approximately $178,000. Great West Life Assurance Co. Can raised its position in shares of Quidel by 55.8% during the second quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock valued at $227,000 after buying an additional 1,220 shares during the last quarter. Winslow Evans & Crocker Inc. bought a new stake in shares of Quidel during the second quarter valued at approximately $236,000. Xact Kapitalforvaltning AB bought a new stake in shares of Quidel during the first quarter valued at approximately $241,000. Finally, Castle Rock Wealth Management LLC bought a new stake in shares of Quidel during the second quarter valued at approximately $327,000. Institutional investors own 88.44% of the company’s stock.

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.

Further Reading: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for Quidel (NASDAQ:QDEL)

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