Dimensional Fund Advisors LP Lowers Stake in Quidel Corporation (NASDAQ:QDEL)
Dimensional Fund Advisors LP lowered its stake in Quidel Corporation (NASDAQ:QDEL) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 847,973 shares of the company’s stock after selling 7,086 shares during the period. Dimensional Fund Advisors LP’s holdings in Quidel Corporation were worth $19,198,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. First Mercantile Trust Co. increased its stake in Quidel Corporation by 0.8% in the first quarter. First Mercantile Trust Co. now owns 5,280 shares of the company’s stock valued at $120,000 after buying an additional 40 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Quidel Corporation by 4.6% in the first quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock valued at $157,000 after buying an additional 306 shares during the period. Trellus Management Company LLC acquired a new position in shares of Quidel Corporation during the first quarter valued at about $262,000. Alambic Investment Management L.P. acquired a new position in shares of Quidel Corporation during the first quarter valued at about $263,000. Finally, American International Group Inc. boosted its position in shares of Quidel Corporation by 7.1% in the first quarter. American International Group Inc. now owns 16,546 shares of the company’s stock valued at $375,000 after buying an additional 1,099 shares during the period. Institutional investors and hedge funds own 89.34% of the company’s stock.
Shares of Quidel Corporation (NASDAQ:QDEL) traded up 2.45% on Friday, hitting $33.40. 314,044 shares of the company traded hands. Quidel Corporation has a 12 month low of $18.25 and a 12 month high of $38.92. The stock’s 50-day moving average price is $31.36 and its 200-day moving average price is $24.95. The company’s market capitalization is $1.12 billion.
Quidel Corporation (NASDAQ:QDEL) last released its earnings results on Wednesday, July 26th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.18. Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The firm had revenue of $38.30 million during the quarter, compared to analyst estimates of $41.91 million. During the same quarter last year, the business posted ($0.11) EPS. The firm’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts predict that Quidel Corporation will post $0.28 earnings per share for the current year.
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Several research analysts recently issued reports on QDEL shares. Zacks Investment Research cut shares of Quidel Corporation from a “hold” rating to a “strong sell” rating in a report on Saturday, July 29th. BidaskClub cut shares of Quidel Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. TheStreet cut shares of Quidel Corporation from a “b-” rating to a “c” rating in a report on Wednesday, July 26th. William Blair raised shares of Quidel Corporation from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 18th. Finally, Barclays PLC raised their target price on shares of Quidel Corporation from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Quidel Corporation has an average rating of “Hold” and an average price target of $31.40.
In other news, CFO Randall J. Steward sold 94,215 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $34.09, for a total value of $3,211,789.35. Following the completion of the sale, the chief financial officer now owns 79,907 shares in the company, valued at approximately $2,724,029.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $24.98, for a total transaction of $899,280.00. Following the completion of the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at approximately $7,406,395.14. The disclosure for this sale can be found here. Insiders sold a total of 227,388 shares of company stock valued at $6,951,432 in the last 90 days. Company insiders own 22.00% of the company’s stock.
About Quidel Corporation
Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. These diagnostic testing solutions are separated into four product categories: immunoassays, molecular assays, virology and specialty products. The Company 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, pharmacies and wellness screening centers.
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