King Luther Capital Management Corp Invests $585,000 in Quidel Co. (QDEL) Stock
King Luther Capital Management Corp acquired a new stake in Quidel Co. (NASDAQ:QDEL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,500 shares of the company’s stock, valued at approximately $585,000.
A number of other large investors have also recently modified their holdings of QDEL. OppenheimerFunds Inc. grew its position in Quidel by 206.6% in the fourth quarter. OppenheimerFunds Inc. now owns 630,052 shares of the company’s stock valued at $27,313,000 after acquiring an additional 424,580 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in Quidel in the fourth quarter valued at approximately $16,097,000. Davidson Kempner Capital Management LP acquired a new stake in Quidel in the third quarter valued at approximately $6,974,000. Omni Partners LLP acquired a new stake in Quidel in the third quarter valued at approximately $6,412,000. Finally, Columbus Circle Investors acquired a new stake in Quidel in the third quarter valued at approximately $5,504,000. 92.07% of the stock is owned by institutional investors.
In other news, SVP Robert Joseph Bujarski sold 110,704 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.78, for a total transaction of $4,403,805.12. Following the completion of the sale, the senior vice president now owns 79,797 shares of the company’s stock, valued at $3,174,324.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Werner Kroll sold 16,358 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $40.44, for a total transaction of $661,517.52. Following the sale, the senior vice president now directly owns 10,818 shares of the company’s stock, valued at approximately $437,479.92. The disclosure for this sale can be found here. Insiders have sold 370,260 shares of company stock valued at $15,639,460 in the last three months. Corporate insiders own 22.00% of the company’s stock.
Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.70. Quidel had a negative net margin of 2.94% and a negative return on equity of 3.02%. The business had revenue of $114.90 million during the quarter, compared to the consensus estimate of $115.06 million. During the same quarter last year, the company earned $0.17 earnings per share. The business’s quarterly revenue was up 117.6% compared to the same quarter last year. analysts forecast that Quidel Co. will post 1.22 earnings per share for the current fiscal year.
QDEL has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Quidel from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. BidaskClub raised shares of Quidel from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Quidel in a research report on Thursday, December 14th. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Quidel in a research report on Thursday, December 21st. Finally, CL King raised shares of Quidel from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Quidel currently has a consensus rating of “Buy” and a consensus price target of $53.50.
Quidel 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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