Quidel Co. (QDEL) Given Average Recommendation of “Buy” by Analysts
Shares of Quidel Co. (NASDAQ:QDEL) have earned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $65.83.
Several research firms recently commented on QDEL. Piper Jaffray Companies reiterated an “overweight” rating and issued a $74.00 price target on shares of Quidel in a research report on Wednesday. William Blair reiterated a “buy” rating on shares of Quidel in a research report on Friday, April 13th. Craig Hallum lifted their price target on Quidel from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays lifted their price target on Quidel from $65.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, August 6th. Finally, ValuEngine lowered Quidel from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 19th.
Shares of Quidel stock opened at $69.70 on Friday. The stock has a market cap of $2.69 billion, a PE ratio of -995.71, a PEG ratio of 1.25 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.36 and a debt-to-equity ratio of 0.40. Quidel has a twelve month low of $31.01 and a twelve month high of $73.36.
In other Quidel news, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $65.84, for a total value of $790,080.00. Following the completion of the sale, the chief executive officer now owns 306,313 shares of the company’s stock, valued at $20,167,647.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas D. Brown sold 30,451 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $61.34, for a total transaction of $1,867,864.34. Following the completion of the sale, the director now directly owns 69,960 shares of the company’s stock, valued at approximately $4,291,346.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,006 shares of company stock valued at $12,015,199. 16.70% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Quidel by 22.2% in the second quarter. BlackRock Inc. now owns 2,188,930 shares of the company’s stock worth $145,564,000 after purchasing an additional 396,989 shares during the last quarter. Fred Alger Management Inc. lifted its stake in Quidel by 7.5% in the second quarter. Fred Alger Management Inc. now owns 1,157,905 shares of the company’s stock worth $77,001,000 after purchasing an additional 80,854 shares during the last quarter. Millennium Management LLC lifted its stake in Quidel by 72.0% in the first quarter. Millennium Management LLC now owns 996,815 shares of the company’s stock worth $51,645,000 after purchasing an additional 417,106 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Quidel by 9.0% in the first quarter. Dimensional Fund Advisors LP now owns 925,055 shares of the company’s stock worth $47,927,000 after purchasing an additional 76,339 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in Quidel by 36.5% in the first quarter. OppenheimerFunds Inc. now owns 860,229 shares of the company’s stock worth $44,568,000 after purchasing an additional 230,177 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.
Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications in infectious diseases, cardiology, thyroid, women's and general health, eye health, gastrointestinal diseases, and toxicology. The company offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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