Quidel Corp. (QDEL) Sees Strong Trading Volume
Quidel Corp. (NASDAQ:QDEL) 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 reiterated a “hold” rating and set a $18.00 price target (up previously from $17.00) on shares of Quidel Corp. in a research report on Monday, March 21st. TheStreet cut shares of Quidel Corp. from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. Raymond James Financial Inc. upgraded shares of Quidel Corp. from a “market perform” rating to an “outperform” rating and set a $21.50 price objective on the stock in a report on Monday, June 13th. Finally, Zacks Investment Research upgraded shares of Quidel Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.42.
The stock has a 50-day moving average of $17.92 and a 200 day moving average of $17.27. The stock’s market cap is $659.57 million.
Quidel Corp. (NASDAQ:QDEL) last issued its earnings results on Wednesday, April 27th. The company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. During the same period last year, the business earned $0.30 EPS. The firm earned $50.30 million during the quarter, compared to analyst estimates of $49.21 million. The firm’s revenue was down 18.5% compared to the same quarter last year. Analysts forecast that Quidel Corp. will post ($0.15) EPS for the current year.
A number of hedge funds have recently modified their holdings of QDEL. Dimensional Fund Advisors LP boosted its stake in shares of Quidel Corp. by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 801,382 shares of the company’s stock valued at $16,989,000 after buying an additional 26,895 shares during the period. I.G. Investment Management LTD. boosted its stake in shares of Quidel Corp. by 16.0% in the fourth quarter. I.G. Investment Management LTD. now owns 57,361 shares of the company’s stock valued at $1,216,000 after buying an additional 7,902 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Quidel Corp. by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 53,348 shares of the company’s stock valued at $1,131,000 after buying an additional 989 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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