Quidel (NASDAQ:QDEL) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.
Several other research firms also recently commented on QDEL. Piper Jaffray Companies restated a “buy” rating and issued a $60.00 price target on shares of Quidel in a research note on Wednesday, January 24th. Barclays upped their price target on shares of Quidel from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Raymond James Financial upgraded shares of Quidel from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $55.00 to $47.00 in a research note on Thursday. UBS Group upgraded shares of Quidel from an “outperform” rating to a “strong-buy” rating in a research note on Thursday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price objective (up previously from $48.00) on shares of Quidel in a research report on Thursday, December 21st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $53.50.
Quidel (QDEL) opened at $48.95 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.58 and a quick ratio of 2.06. Quidel has a one year low of $20.43 and a one year high of $49.98. The company has a market cap of $1,706.01, a PE ratio of -203.96, a P/E/G ratio of 1.60 and a beta of 1.03.
In related news, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $44.10, for a total transaction of $1,587,600.00. Following the completion of the sale, the chief executive officer now owns 286,493 shares of the company’s stock, valued at $12,634,341.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Joseph Bujarski sold 110,704 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $39.78, for a total transaction of $4,403,805.12. Following the sale, the senior vice president now directly owns 79,797 shares of the company’s stock, valued at approximately $3,174,324.66. The disclosure for this sale can be found here. Insiders have sold 316,967 shares of company stock valued at $13,503,922 in the last ninety days. 22.00% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Quidel by 2.1% during the fourth quarter. BlackRock Inc. now owns 1,790,347 shares of the company’s stock worth $77,611,000 after purchasing an additional 36,236 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Quidel by 12.7% in the fourth quarter. Macquarie Group Ltd. now owns 1,132,743 shares of the company’s stock worth $49,105,000 after acquiring an additional 128,081 shares during the last quarter. Fred Alger Management Inc. lifted its holdings in shares of Quidel by 7.3% in the fourth quarter. Fred Alger Management Inc. now owns 985,376 shares of the company’s stock worth $42,716,000 after acquiring an additional 66,926 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Quidel by 0.7% in the third quarter. New York State Common Retirement Fund now owns 899,390 shares of the company’s stock worth $39,447,000 after acquiring an additional 6,635 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Quidel by 10.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 857,195 shares of the company’s stock worth $37,159,000 after acquiring an additional 83,894 shares during the last quarter. 93.97% of the stock is owned by institutional investors and hedge funds.
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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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