GAM Holding AG bought a new position in shares of Quidel Co. (NASDAQ:QDEL) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 40,966 shares of the company’s stock, valued at approximately $2,682,000. GAM Holding AG owned 0.10% of Quidel as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Cutler Group LP purchased a new position in shares of Quidel during the 4th quarter worth approximately $43,000. Strs Ohio purchased a new position in shares of Quidel during the 1st quarter worth approximately $58,000. Huntington National Bank purchased a new position in shares of Quidel during the 1st quarter worth approximately $73,000. NumerixS Investment Technologies Inc increased its stake in shares of Quidel by 178.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the company’s stock worth $90,000 after purchasing an additional 897 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Quidel by 16.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,353 shares of the company’s stock worth $115,000 after purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds own 91.40% of the company’s stock.
A number of research analysts have recently weighed in on QDEL shares. Raymond James raised their price objective on shares of Quidel from $72.00 to $74.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 15th. BidaskClub upgraded shares of Quidel from a “hold” rating to a “buy” rating in a research report on Saturday, June 22nd. Zacks Investment Research upgraded shares of Quidel from a “hold” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a research report on Friday, April 19th. Barclays raised their target price on shares of Quidel from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Finally, ValuEngine lowered shares of Quidel from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $72.83.
Shares of QDEL traded up $0.67 during mid-day trading on Friday, reaching $59.32. The company had a trading volume of 168,323 shares, compared to its average volume of 218,726. The firm has a market capitalization of $2.29 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. The company’s fifty day simple moving average is $57.01. Quidel Co. has a fifty-two week low of $44.27 and a fifty-two week high of $77.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.33.
Quidel (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.14). The company had revenue of $148.00 million during the quarter, compared to analyst estimates of $157.61 million. Quidel had a net margin of 12.98% and a return on equity of 25.33%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 EPS. On average, equities research analysts expect that Quidel Co. will post 2.72 EPS for the current fiscal year.
Quidel Company Profile
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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