Quidel Corp. (QDEL) Sees Unusually-High Trading Volume
Quidel Corp. (NASDAQ:QDEL) shares saw unusually-strong trading volume on Thursday . Approximately 223,001 shares changed hands during trading, an increase of 67% from the previous session’s volume of 133,381 shares.The stock last traded at $20.50 and had previously closed at $20.34.
Several equities analysts recently issued reports on QDEL shares. Canaccord Genuity reaffirmed a “hold” rating and set a $18.00 price objective (up from $17.00) on shares of Quidel Corp. in a report on Monday, March 21st. Zacks Investment Research raised Quidel Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. TheStreet downgraded Quidel Corp. from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. Finally, Raymond James Financial Inc. raised Quidel Corp. from a “market perform” rating to an “outperform” rating and set a $21.50 price target for the company in a research report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $20.42.
The company’s 50 day moving average price is $17.88 and its 200 day moving average price is $17.30. The firm’s market capitalization is $662.81 million.
Quidel Corp. (NASDAQ:QDEL) last posted its earnings results on Wednesday, April 27th. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. The business had revenue of $50.30 million for the quarter, compared to analyst estimates of $49.21 million. During the same period in the previous year, the company earned $0.30 earnings per share. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, analysts expect that Quidel Corp. will post ($0.15) EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its stake in Quidel Corp. by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 53,348 shares of the company’s stock worth $1,131,000 after buying an additional 989 shares during the period. I.G. Investment Management LTD. boosted its stake in Quidel Corp. by 16.0% in the fourth quarter. I.G. Investment Management LTD. now owns 57,361 shares of the company’s stock worth $1,216,000 after buying an additional 7,902 shares during the period. Oxford Asset Management purchased a new stake in Quidel Corp. during the fourth quarter worth about $2,204,000. Finally, Dimensional Fund Advisors LP boosted its stake in Quidel Corp. by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 801,382 shares of the company’s stock worth $16,989,000 after buying an additional 26,895 shares during the period.
Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. The Company’s diagnostic testing solutions primarily include applications in infectious diseases, women’s health and gastrointestinal diseases. It sells its products directly to end users and distributors, in each case, for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, universities, retail clinics and wellness screening centers.
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