Renaissance Technologies LLC Acquires 132,587 Shares of Quidel Corporation (QDEL)
Renaissance Technologies LLC lifted its holdings in Quidel Corporation (NASDAQ:QDEL) by 27.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 612,487 shares of the company’s stock after buying an additional 132,587 shares during the quarter. Renaissance Technologies LLC owned approximately 1.83% of Quidel Corporation worth $16,623,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Quidel Corporation by 8.1% in the 2nd quarter. SG Americas Securities LLC now owns 38,347 shares of the company’s stock worth $1,041,000 after buying an additional 2,871 shares during the period. Legal & General Group Plc grew its position in shares of Quidel Corporation by 4.6% in the 1st quarter. Legal & General Group Plc now owns 6,931 shares of the company’s stock worth $157,000 after buying an additional 306 shares during the period. Trellus Management Company LLC grew its position in shares of Quidel Corporation by 98.0% in the 2nd quarter. Trellus Management Company LLC now owns 22,930 shares of the company’s stock worth $622,000 after buying an additional 11,350 shares during the period. Chicago Equity Partners LLC purchased a new stake in shares of Quidel Corporation in the 2nd quarter worth about $5,062,000. Finally, Eagle Boston Investment Management Inc. grew its position in shares of Quidel Corporation by 3.4% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 359,034 shares of the company’s stock worth $9,744,000 after buying an additional 11,890 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on QDEL. Zacks Investment Research raised shares of Quidel Corporation from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday. Canaccord Genuity reissued a “buy” rating and set a $48.00 price objective (up from $42.00) on shares of Quidel Corporation in a research report on Tuesday, September 19th. Barclays PLC reissued a “buy” rating and set a $45.00 price objective (up from $39.00) on shares of Quidel Corporation in a research report on Tuesday, September 19th. Piper Jaffray Companies raised shares of Quidel Corporation from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $35.00 to $50.00 in a research report on Tuesday, September 19th. Finally, Raymond James Financial, Inc. reissued a “buy” rating and set a $47.00 price objective (up from $41.00) on shares of Quidel Corporation in a research report on Tuesday, September 19th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Quidel Corporation presently has a consensus rating of “Buy” and an average target price of $48.00.
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In other news, CFO Randall J. Steward sold 94,215 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $34.09, for a total transaction of $3,211,789.35. Following the sale, the chief financial officer now owns 79,907 shares in the company, valued at $2,724,029.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $42.91, for a total value of $1,544,760.00. Following the sale, the chief executive officer now owns 296,493 shares in the company, valued at approximately $12,722,514.63. The disclosure for this sale can be found here. Insiders sold 227,388 shares of company stock worth $8,274,312 in the last quarter. 22.00% of the stock is owned by insiders.
Shares of Quidel Corporation (QDEL) opened at 42.86 on Friday. The company’s 50-day moving average is $40.12 and its 200 day moving average is $30.61. The stock’s market capitalization is $1.43 billion. Quidel Corporation has a 12 month low of $18.25 and a 12 month high of $45.55.
Quidel Corporation (NASDAQ:QDEL) last posted its earnings results on Wednesday, July 26th. The company reported ($0.35) earnings per share (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 during the quarter, compared to analysts’ expectations of $41.91 million. During the same quarter last year, the firm earned ($0.11) EPS. Quidel Corporation’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts predict that Quidel Corporation will post $0.29 earnings per share for the current year.
Quidel Corporation Company 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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