Quidel Co. (NASDAQ:QDEL) Expected to Post Quarterly Sales of $107.98 Million

Brokerages expect that Quidel Co. (NASDAQ:QDEL) will announce sales of $107.98 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Quidel’s earnings. The lowest sales estimate is $106.00 million and the highest is $110.13 million. Quidel reported sales of $103.16 million in the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The business is expected to announce its next earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that Quidel will report full-year sales of $530.38 million for the current financial year, with estimates ranging from $526.60 million to $534.74 million. For the next financial year, analysts expect that the firm will report sales of $561.97 million, with estimates ranging from $558.32 million to $567.49 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Quidel.

Quidel (NASDAQ:QDEL) last issued its earnings results on Wednesday, May 8th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.14). The company had revenue of $148.00 million for the quarter, compared to analysts’ expectations of $157.61 million. Quidel had a net margin of 12.98% and a return on equity of 25.33%. The company’s revenue was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 earnings per share.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Quidel from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. BidaskClub cut Quidel from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. ValuEngine cut Quidel from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays increased their price objective on Quidel from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Finally, Raymond James increased their price objective on Quidel from $72.00 to $74.00 and gave the stock a “strong-buy” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $72.83.

In other news, CEO Douglas C. Bryant sold 25,250 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $57.25, for a total value of $1,445,562.50. Following the completion of the transaction, the chief executive officer now owns 307,280 shares of the company’s stock, valued at approximately $17,591,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas C. Bryant sold 28,711 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $57.59, for a total value of $1,653,466.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,963 shares of company stock valued at $4,018,580. Company insiders own 14.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Quidel in the 1st quarter worth approximately $58,000. Huntington National Bank bought a new position in shares of Quidel in the 1st quarter worth approximately $73,000. NumerixS Investment Technologies Inc raised its position in shares of Quidel by 178.3% in the 1st quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the company’s stock worth $90,000 after acquiring an additional 897 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Quidel in the 4th quarter worth approximately $212,000. Finally, Amalgamated Bank bought a new position in shares of Quidel in the 4th quarter worth approximately $242,000. 91.40% of the stock is owned by hedge funds and other institutional investors.

Shares of QDEL stock opened at $59.32 on Friday. Quidel has a 1-year low of $44.27 and a 1-year high of $77.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 0.91. The firm’s 50-day moving average is $57.01. The stock has a market cap of $2.36 billion, a PE ratio of 21.04, a PEG ratio of 0.85 and a beta of 1.38.

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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