Quidel (NASDAQ:QDEL) Downgraded by ValuEngine to “Sell”

ValuEngine cut shares of Quidel (NASDAQ:QDEL) from a hold rating to a sell rating in a report issued on Wednesday, ValuEngine reports.

Other equities analysts also recently issued reports about the stock. BidaskClub raised shares of Quidel from a buy rating to a strong-buy rating in a report on Friday, October 2nd. Zacks Investment Research raised shares of Quidel from a hold rating to a strong-buy rating and set a $325.00 price objective on the stock in a report on Tuesday, August 4th. Piper Sandler increased their price objective on shares of Quidel from $250.00 to $360.00 and gave the company an overweight rating in a report on Friday, July 31st. Finally, Craig Hallum increased their price objective on shares of Quidel from $306.00 to $363.00 and gave the company a buy rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Quidel has a consensus rating of Buy and a consensus target price of $202.43.

Shares of NASDAQ QDEL opened at $248.21 on Wednesday. The company’s fifty day moving average price is $212.34 and its 200 day moving average price is $199.17. Quidel has a 1 year low of $55.42 and a 1 year high of $306.72. The company has a market capitalization of $10.41 billion, a PE ratio of 69.53 and a beta of 0.84.

Quidel (NASDAQ:QDEL) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.65. The firm had revenue of $201.75 million for the quarter, compared to the consensus estimate of $201.40 million. Quidel had a net margin of 23.61% and a return on equity of 33.86%. As a group, equities analysts predict that Quidel will post 13.59 earnings per share for the current fiscal year.

In related news, Director Mary Lake Ph D. Polan sold 11,743 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $275.83, for a total transaction of $3,239,071.69. Following the completion of the sale, the director now directly owns 11,141 shares in the company, valued at $3,073,022.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Werner Kroll sold 2,072 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $287.48, for a total transaction of $595,658.56. Following the sale, the senior vice president now owns 4,599 shares of the company’s stock, valued at $1,322,120.52. The disclosure for this sale can be found here. Over the last three months, insiders bought 20,800 shares of company stock worth $4,270,515 and sold 40,591 shares worth $11,297,268. Company insiders own 14.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in QDEL. Public Employees Retirement Association of Colorado increased its position in Quidel by 15.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 261,895 shares of the company’s stock worth $25,616,000 after purchasing an additional 36,006 shares during the last quarter. Legal & General Group Plc increased its position in Quidel by 12.8% during the first quarter. Legal & General Group Plc now owns 27,434 shares of the company’s stock worth $2,638,000 after purchasing an additional 3,106 shares during the last quarter. CIBC World Markets Inc. acquired a new stake in Quidel during the first quarter worth about $332,000. Invesco Ltd. increased its position in shares of Quidel by 105.7% during the first quarter. Invesco Ltd. now owns 667,329 shares of the company’s stock valued at $65,272,000 after acquiring an additional 342,986 shares during the last quarter. Finally, AXA increased its position in shares of Quidel by 115.9% during the first quarter. AXA now owns 9,500 shares of the company’s stock valued at $930,000 after acquiring an additional 5,100 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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 worldwide. It 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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Analyst Recommendations for Quidel (NASDAQ:QDEL)

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