Thomas D. Brown Sells 12,154 Shares of Quidel Corporation (QDEL) Stock
Quidel Corporation (NASDAQ:QDEL) Director Thomas D. Brown sold 12,154 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $39.62, for a total value of $481,541.48. Following the transaction, the director now directly owns 57,179 shares in the company, valued at approximately $2,265,431.98. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Quidel Corporation (NASDAQ:QDEL) opened at $40.40 on Friday. The company has a current ratio of 6.28, a quick ratio of 5.68 and a debt-to-equity ratio of 0.70. Quidel Corporation has a 12 month low of $18.25 and a 12 month high of $45.55.
Quidel (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.21). The company had revenue of $50.89 million for the quarter, compared to analysts’ expectations of $50.47 million. Quidel had a negative return on equity of 2.36% and a negative net margin of 2.33%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. research analysts anticipate that Quidel Corporation will post 0.6 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on QDEL. Piper Jaffray Companies reissued a “buy” rating and set a $50.00 price target on shares of Quidel in a research report on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and set a $48.00 price target on shares of Quidel in a research report on Wednesday, October 25th. Barclays reissued a “buy” rating and set a $45.00 price target (up previously from $39.00) on shares of Quidel in a research report on Tuesday, September 19th. BidaskClub raised Quidel from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Finally, Zacks Investment Research raised Quidel from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, October 13th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $48.80.
Several hedge funds and other institutional investors have recently modified their holdings of QDEL. Chicago Equity Partners LLC purchased a new stake in shares of Quidel during the 2nd quarter worth $5,062,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Quidel during the 3rd quarter worth $6,974,000. Omni Partners LLP purchased a new stake in shares of Quidel during the 3rd quarter worth $6,412,000. Marshall Wace North America L.P. lifted its stake in shares of Quidel by 370.1% during the 2nd quarter. Marshall Wace North America L.P. now owns 171,800 shares of the company’s stock worth $4,639,000 after purchasing an additional 135,253 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Quidel by 27.6% during the 2nd quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock worth $16,623,000 after purchasing an additional 132,587 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.
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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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