BidaskClub Downgrades Quidel (QDEL) to Hold

BidaskClub Downgrades Quidel (QDEL) to Hold

Quidel (NASDAQ:QDEL) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday, BidAskClub reports.

Several other research firms have also issued reports on QDEL. Barclays raised their price target on Quidel from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. ValuEngine downgraded Quidel from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research downgraded Quidel from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. Raymond James raised their price objective on Quidel from $72.00 to $74.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 15th. Finally, Craig Hallum raised their price objective on Quidel from $51.00 to $63.00 and gave the stock a “hold” rating in a research note on Thursday, February 14th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $72.83.

Shares of QDEL opened at $57.63 on Tuesday. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 0.85 and a beta of 1.31. 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 has a 52 week low of $44.27 and a 52 week high of $77.63.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.14). Quidel had a return on equity of 25.33% and a net margin of 12.98%. The company had revenue of $148.00 million during the quarter, compared to the consensus estimate of $157.61 million. During the same quarter in the prior year, the business earned $1.29 earnings per share. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. Analysts forecast that Quidel will post 2.72 EPS for the current year.

In related news, Director Thomas D. Brown sold 17,122 shares of Quidel stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $67.53, for a total value of $1,156,248.66. Following the sale, the director now owns 62,039 shares of the company’s stock, valued at $4,189,493.67. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kenneth F. Buechler sold 2,002 shares of Quidel stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $60.58, for a total value of $121,281.16. Following the transaction, the director now owns 49,771 shares of the company’s stock, valued at approximately $3,015,127.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,600 shares of company stock worth $17,220,781. 14.10% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of QDEL. Jane Street Group LLC bought a new position in Quidel during the third quarter worth about $229,000. AQR Capital Management LLC grew its holdings in Quidel by 33.9% during the third quarter. AQR Capital Management LLC now owns 21,997 shares of the company’s stock worth $1,434,000 after purchasing an additional 5,570 shares during the period. Teachers Advisors LLC grew its holdings in Quidel by 1.3% during the third quarter. Teachers Advisors LLC now owns 71,353 shares of the company’s stock worth $4,650,000 after purchasing an additional 930 shares during the period. Legal & General Group Plc grew its holdings in Quidel by 22.2% during the third quarter. Legal & General Group Plc now owns 12,825 shares of the company’s stock worth $836,000 after purchasing an additional 2,328 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Quidel by 5.5% during the third quarter. Vanguard Group Inc. now owns 2,929,387 shares of the company’s stock worth $190,909,000 after purchasing an additional 152,702 shares during the period. Institutional investors and hedge funds own 92.31% 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. 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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