JPMorgan Chase & Co. decreased its stake in Quidel Corp. (NASDAQ:QDEL) by 74.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 827,699 shares of the company’s stock after selling 2,404,526 shares during the period. JPMorgan Chase & Co. owned 2.56% of Quidel Corp. worth $14,783,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in Quidel Corp. during the second quarter valued at $244,000. State Board of Administration of Florida Retirement System raised its position in Quidel Corp. by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 27,980 shares of the company’s stock worth $500,000 after buying an additional 104 shares during the period. Societe Generale bought a new position in Quidel Corp. during the second quarter worth approximately $616,000. Menta Capital LLC raised its position in Quidel Corp. by 19.9% in the first quarter. Menta Capital LLC now owns 39,804 shares of the company’s stock worth $687,000 after buying an additional 6,600 shares during the period. Finally, A.R.T. Advisors LLC raised its position in Quidel Corp. by 196.5% in the first quarter. A.R.T. Advisors LLC now owns 45,570 shares of the company’s stock worth $786,000 after buying an additional 30,200 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.
Shares of Quidel Corp. (NASDAQ:QDEL) traded up 4.55% during trading on Friday, hitting $21.84. The stock had a trading volume of 76,283 shares. The company’s market cap is $707.44 million. Quidel Corp. has a 1-year low of $13.21 and a 1-year high of $23.94. The firm’s 50 day moving average is $21.74 and its 200 day moving average is $19.08.
Quidel Corp. (NASDAQ:QDEL) last released its earnings results on Wednesday, July 27th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.14. The company earned $39.10 million during the quarter, compared to analyst estimates of $37.98 million. Quidel Corp. had a negative return on equity of 1.06% and a negative net margin of 6.59%. Quidel Corp.’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) earnings per share. Equities research analysts anticipate that Quidel Corp. will post ($0.14) EPS for the current fiscal year.
A number of equities analysts have commented on QDEL shares. Zacks Investment Research lowered Quidel Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, July 23rd. Canaccord Genuity restated a “hold” rating and set a $22.00 price objective on shares of Quidel Corp. in a research note on Friday, July 29th. Finally, Raymond James Financial Inc. upgraded Quidel Corp. from a “market perform” rating to an “outperform” rating and set a $21.50 price objective on the stock in a research note on Monday, June 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Quidel Corp. presently has an average rating of “Hold” and a consensus price target of $21.58.
In related news, CEO Douglas C. Bryant sold 2,832 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $22.00, for a total value of $62,304.00. Following the transaction, the chief executive officer now owns 276,843 shares in the company, valued at $6,090,546. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John Tamerius sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $23.02, for a total value of $161,140.00. Following the completion of the transaction, the senior vice president now owns 18,540 shares in the company, valued at approximately $426,790.80. The disclosure for this sale can be found here. 23.40% of the stock is owned by insiders.
Quidel Corp. Company Profile
Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. The Company’s diagnostic testing solutions primarily include applications in infectious diseases, women’s health and gastrointestinal diseases. It 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 and wellness screening centers.
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