Metropolitan Life Insurance Co. NY decreased its stake in Quidel Corporation (NASDAQ:QDEL) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,607 shares of the company’s stock after selling 1,341 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Quidel Corporation were worth $444,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QDEL. Highbridge Capital Management LLC purchased a new position in Quidel Corporation during the first quarter valued at about $487,000. Bank of America Corp DE increased its position in Quidel Corporation by 44.2% in the first quarter. Bank of America Corp DE now owns 58,496 shares of the company’s stock valued at $1,323,000 after buying an additional 17,943 shares during the period. Schwab Charles Investment Management Inc. increased its position in Quidel Corporation by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 120,582 shares of the company’s stock valued at $2,730,000 after buying an additional 6,480 shares during the period. Geode Capital Management LLC increased its position in Quidel Corporation by 3.9% in the first quarter. Geode Capital Management LLC now owns 224,463 shares of the company’s stock valued at $5,081,000 after buying an additional 8,441 shares during the period. Finally, Vanguard Group Inc. increased its position in Quidel Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 2,126,552 shares of the company’s stock valued at $48,145,000 after buying an additional 87,995 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

Shares of Quidel Corporation (NASDAQ QDEL) traded up 0.18% on Tuesday, reaching $33.21. 12,300 shares of the company traded hands. Quidel Corporation has a 52-week low of $18.25 and a 52-week high of $38.92. The firm has a 50-day moving average of $31.52 and a 200-day moving average of $25.14. The company’s market capitalization is $1.11 billion.

Quidel Corporation (NASDAQ:QDEL) last announced its earnings results on Wednesday, July 26th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.18. Quidel Corporation had a negative net margin of 0.03% and a negative return on equity of 0.03%. The company had revenue of $38.30 million for the quarter, compared to analysts’ expectations of $41.91 million. During the same period in the prior year, the company earned ($0.11) earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts forecast that Quidel Corporation will post $0.28 earnings per share for the current fiscal year.

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Several research analysts recently weighed in on QDEL shares. BidaskClub downgraded shares of Quidel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded shares of Quidel Corporation from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 29th. TheStreet downgraded shares of Quidel Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, July 26th. Raymond James Financial, Inc. boosted their target price on shares of Quidel Corporation from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, Barclays PLC boosted their target price on shares of Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. One equities research 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. Quidel Corporation presently has a consensus rating of “Hold” and an average price target of $31.40.

In other news, CEO Douglas C. Bryant sold 36,000 shares of the company’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 directly owns 296,493 shares of the company’s stock, valued at $7,406,395.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 12,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $24.90, for a total value of $298,800.00. Following the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at $7,382,675.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,388 shares of company stock valued at $6,951,432. 22.00% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Quidel Corporation (NASDAQ:QDEL)

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