State Board of Administration of Florida Retirement System Raises Position in Quidel Corp. (QDEL)
State Board of Administration of Florida Retirement System increased its stake in shares of Quidel Corp. (NASDAQ:QDEL) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 27,980 shares of the company’s stock after buying an additional 104 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.09% of Quidel Corp. worth $500,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can bought a new position in Quidel Corp. during the second quarter valued at about $244,000. Societe Generale bought a new position in Quidel Corp. during the second quarter valued at about $616,000. Menta Capital LLC boosted its position in Quidel Corp. by 19.9% in the first quarter. Menta Capital LLC now owns 39,804 shares of the company’s stock valued at $687,000 after buying an additional 6,600 shares in the last quarter. A.R.T. Advisors LLC boosted its position in Quidel Corp. by 196.5% in the first quarter. A.R.T. Advisors LLC now owns 45,570 shares of the company’s stock valued at $786,000 after buying an additional 30,200 shares in the last quarter. Finally, DIAM Co. Ltd. boosted its position in Quidel Corp. by 12.9% in the second quarter. DIAM Co. Ltd. now owns 53,011 shares of the company’s stock valued at $935,000 after buying an additional 6,052 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.
Quidel Corp. (NASDAQ:QDEL) traded down 1.00% during trading on Friday, reaching $21.69. 13,766 shares of the company’s stock traded hands. The firm’s 50 day moving average is $21.69 and its 200 day moving average is $19.27. Quidel Corp. has a 12 month low of $13.21 and a 12 month high of $23.94. The company’s market cap is $702.58 million.
Quidel Corp. (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.14. Quidel Corp. had a negative net margin of 6.59% and a negative return on equity of 1.06%. The business had revenue of $39.10 million for the quarter, compared to analysts’ expectations of $37.98 million. During the same period in the prior year, the firm earned ($0.14) earnings per share. Quidel Corp.’s revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that Quidel Corp. will post ($0.14) EPS for the current year.
QDEL has been the topic of several research reports. Zacks Investment Research raised Quidel Corp. from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Wednesday, July 13th. Canaccord Genuity reaffirmed a “hold” rating and issued a $22.00 price target on shares of Quidel Corp. in a report on Friday, July 29th. Finally, Raymond James Financial Inc. raised Quidel Corp. from a “market perform” rating to an “outperform” rating and set a $21.50 price target on the stock in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $21.58.
In other news, SVP Robert Joseph Bujarski sold 22,057 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $22.58, for a total transaction of $498,047.06. Following the sale, the senior vice president now directly owns 60,100 shares of the company’s stock, valued at $1,357,058. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Tamerius sold 7,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $23.02, for a total transaction of $161,140.00. Following the sale, the senior vice president now directly owns 18,540 shares in the company, valued at $426,790.80. The disclosure for this sale can be found here. Insiders own 23.40% of the company’s stock.
About Quidel Corp.
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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