Quidel (NASDAQ:QDEL) had its price target upped by analysts at Piper Sandler from $250.00 to $360.00 in a research note issued to investors on Friday, The Fly reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 27.45% from the stock’s previous close.
A number of other brokerages have also issued reports on QDEL. JPMorgan Chase & Co. lowered Quidel from a “neutral” rating to an “underweight” rating and increased their target price for the company from $120.00 to $158.00 in a research report on Tuesday, May 12th. Craig Hallum increased their target price on Quidel from $170.00 to $306.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Zacks Investment Research lowered Quidel from a “buy” rating to a “hold” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $177.29.
Shares of QDEL traded up $11.97 during mid-day trading on Friday, hitting $282.47. 936,109 shares of the company traded hands, compared to its average volume of 743,203. Quidel has a 1-year low of $52.49 and a 1-year high of $287.88. The company has a quick ratio of 1.67, a current ratio of 2.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $11.86 billion, a PE ratio of 79.12 and a beta of 1.16. The business has a 50 day moving average of $229.94 and a 200 day moving average of $139.90.
Quidel (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.16. Quidel had a net margin of 23.61% and a return on equity of 34.54%. The company had revenue of $174.65 million for the quarter, compared to the consensus estimate of $157.12 million. As a group, research analysts expect that Quidel will post 7.25 EPS for the current fiscal year.
In other news, CEO Douglas C. Bryant acquired 5,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $160.33 per share, for a total transaction of $801,650.00. Following the acquisition, the chief executive officer now owns 445,823 shares of the company’s stock, valued at approximately $71,478,801.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ratan S. Borkar sold 28,312 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $192.82, for a total value of $5,459,119.84. Following the completion of the transaction, the senior vice president now owns 10,839 shares in the company, valued at approximately $2,089,975.98. The disclosure for this sale can be found here. Insiders sold a total of 143,164 shares of company stock worth $26,211,364 in the last 90 days. 14.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of QDEL. Comerica Bank acquired a new stake in shares of Quidel during the 2nd quarter worth about $6,142,000. Fox Run Management L.L.C. purchased a new stake in Quidel during the second quarter worth approximately $354,000. Flagship Harbor Advisors LLC purchased a new stake in Quidel during the second quarter worth approximately $106,000. Premier Asset Management LLC purchased a new stake in Quidel during the second quarter worth approximately $6,123,000. Finally, Camelot Portfolios LLC purchased a new stake in Quidel during the second quarter worth approximately $336,000. Institutional investors and hedge funds own 87.02% 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, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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