Tandem Investment Advisors Inc. Sells 900 Shares of Quidel Co. (QDEL)

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Tandem Investment Advisors Inc. trimmed its stake in Quidel Co. (NASDAQ:QDEL) by 7.3% in the 1st quarter, HoldingsChannel reports. The fund owned 11,365 shares of the company’s stock after selling 900 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Quidel were worth $744,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its position in shares of Quidel by 5.5% in the 3rd quarter. Vanguard Group Inc now owns 2,929,387 shares of the company’s stock worth $190,909,000 after acquiring an additional 152,702 shares in the last quarter. Vanguard Group Inc. grew its stake in Quidel by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,929,387 shares of the company’s stock worth $190,909,000 after buying an additional 152,702 shares during the last quarter. BlackRock Inc. grew its stake in Quidel by 0.6% during 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 during the last quarter. Macquarie Group Ltd. grew its stake in Quidel by 15.9% during the 3rd quarter. Macquarie Group Ltd. now owns 963,519 shares of the company’s stock worth $62,792,000 after buying an additional 131,980 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Quidel by 2.0% during 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 during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Douglas C. Bryant sold 25,250 shares of the company’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $65.64, for a total value of $1,657,410.00. Following the completion of the transaction, the chief executive officer now owns 302,237 shares of the company’s stock, valued at approximately $19,838,836.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Edward Keith Russell sold 13,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $64.60, for a total value of $839,800.00. Following the completion of the transaction, the vice president now directly owns 22,598 shares of the company’s stock, valued at approximately $1,459,830.80. The disclosure for this sale can be found here. Insiders sold a total of 282,848 shares of company stock valued at $18,490,522 in the last ninety days. 16.70% of the stock is currently owned by insiders.

QDEL has been the topic of several research analyst reports. Zacks Investment Research downgraded Quidel from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. BidaskClub upgraded Quidel from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. ValuEngine downgraded Quidel from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Craig Hallum boosted their price target on Quidel from $51.00 to $63.00 and gave the company a “hold” rating in a research note on Thursday, February 14th. Finally, Barclays reissued a “buy” rating and issued a $74.00 price objective on shares of Quidel in a report on Friday, February 15th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $72.00.

Shares of QDEL stock traded down $0.21 on Monday, hitting $63.73. The company had a trading volume of 609 shares, compared to its average volume of 189,735. The stock has a market cap of $2.52 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.92 and a beta of 1.37. The company has a quick ratio of 0.79, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. Quidel Co. has a twelve month low of $44.27 and a twelve month high of $77.63.

Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 13th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. The company had revenue of $132.59 million during the quarter, compared to analysts’ expectations of $132.26 million. Quidel had a return on equity of 31.73% and a net margin of 14.20%. Quidel’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. Sell-side analysts anticipate that Quidel Co. will post 2.77 earnings per share for the current fiscal year.

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About Quidel

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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Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

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