Quidel Co. (NASDAQ:QDEL) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC grew its stake in shares of Quidel Co. (NASDAQ:QDEL) by 7.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 387,877 shares of the company’s stock after purchasing an additional 27,954 shares during the period. Geode Capital Management LLC’s holdings in Quidel were worth $18,936,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Quidel by 0.6% in the 4th quarter. BlackRock Inc. now owns 2,304,494 shares of the company’s stock worth $112,504,000 after buying an additional 12,840 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Quidel by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 861,159 shares of the company’s stock worth $42,041,000 after buying an additional 17,041 shares in the last quarter. Norges Bank purchased a new stake in shares of Quidel in the 4th quarter worth about $34,899,000. Rothschild & Co. Asset Management US Inc. boosted its position in shares of Quidel by 1.2% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 454,933 shares of the company’s stock worth $22,210,000 after buying an additional 5,311 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Quidel by 22.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 407,887 shares of the company’s stock worth $19,913,000 after buying an additional 74,284 shares in the last quarter. Institutional investors own 91.40% of the company’s stock.
Several research firms recently commented on QDEL. Zacks Investment Research upgraded shares of Quidel from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective on the stock in a research report on Friday, April 19th. BidaskClub lowered shares of Quidel from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. ValuEngine lowered shares of Quidel from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Craig Hallum boosted their price objective on shares of Quidel from $51.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, February 14th. Finally, Barclays reiterated a “buy” rating and issued a $74.00 price objective on shares of Quidel in a research report on Friday, February 15th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $72.83.
Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.14). The business had revenue of $148.00 million during the quarter, compared to analysts’ expectations of $157.61 million. Quidel had a return on equity of 25.33% and a net margin of 12.98%. Quidel’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Analysts forecast that Quidel Co. will post 2.72 EPS for the current fiscal year.
In other Quidel news, Director Charles P. Slacik sold 1,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $55.19, for a total value of $55,190.00. Following the transaction, the director now directly owns 8,703 shares in the company, valued at approximately $480,318.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas C. Bryant sold 25,250 shares of the company’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $65.64, for a total transaction of $1,657,410.00. Following the completion of the transaction, the chief executive officer now owns 302,237 shares in the company, valued at $19,838,836.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,047 shares of company stock worth $2,725,380. 14.10% of the stock is owned by insiders.
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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, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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