19,420 Shares in Quidel Corporation (QDEL) Acquired by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Quidel Corporation (NASDAQ:QDEL) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 19,420 shares of the company’s stock, valued at approximately $527,000. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.06% of Quidel Corporation as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in shares of Quidel Corporation by 4.6% during the 1st quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock worth $157,000 after acquiring an additional 306 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Quidel Corporation during the 2nd quarter worth about $209,000. First Quadrant L P CA bought a new stake in shares of Quidel Corporation during the 2nd quarter worth about $217,000. Alambic Investment Management L.P. bought a new stake in shares of Quidel Corporation during the 1st quarter worth about $263,000. Finally, American International Group Inc. boosted its stake in shares of Quidel Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 16,546 shares of the company’s stock worth $375,000 after acquiring an additional 1,099 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.
QDEL has been the subject of several recent analyst reports. TheStreet upgraded Quidel Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, July 6th. BidaskClub downgraded Quidel Corporation from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research upgraded Quidel Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, July 18th. Canaccord Genuity upgraded Quidel Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 18th. Finally, William Blair upgraded Quidel Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $44.00.
In related news, CFO Randall J. Steward sold 94,215 shares of Quidel Corporation stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $34.09, for a total value of $3,211,789.35. Following the sale, the chief financial officer now owns 79,907 shares of the company’s stock, valued at $2,724,029.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of Quidel Corporation stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $34.44, for a total value of $1,239,840.00. Following the completion of the sale, the chief executive officer now directly owns 296,493 shares in the company, valued at approximately $10,211,218.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,388 shares of company stock worth $6,691,992. 22.00% of the stock is owned by company insiders.
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Shares of Quidel Corporation (QDEL) opened at 43.10 on Monday. The company’s 50-day moving average price is $34.42 and its 200 day moving average price is $27.83. The company’s market cap is $1.44 billion. Quidel Corporation has a 52 week low of $18.25 and a 52 week high of $45.55.
Quidel Corporation (NASDAQ:QDEL) last released its earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.18). The company had revenue of $38.30 million during the quarter, compared to analyst estimates of $41.91 million. Quidel Corporation had a negative net margin of 0.03% and a negative return on equity of 0.03%. Quidel Corporation’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS. On average, equities analysts forecast that Quidel Corporation will post $0.29 EPS for the current fiscal year.
Quidel Corporation Profile
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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