Birchview Capital LP cut its stake in shares of Quidel Co. (NASDAQ:QDEL) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,975 shares of the company’s stock after selling 5,000 shares during the period. Quidel makes up 1.2% of Birchview Capital LP’s holdings, making the stock its 9th biggest holding. Birchview Capital LP owned approximately 0.09% of Quidel worth $1,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in QDEL. Cornerstone Capital Management Holdings LLC. purchased a new position in Quidel in the fourth quarter worth approximately $156,000. Mackay Shields LLC purchased a new position in Quidel in the first quarter worth approximately $202,000. Teacher Retirement System of Texas purchased a new position in Quidel in the fourth quarter worth approximately $421,000. Campbell & CO Investment Adviser LLC purchased a new position in Quidel in the first quarter worth approximately $590,000. Finally, UBS Asset Management Americas Inc. lifted its stake in Quidel by 173.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 13,140 shares of the company’s stock worth $570,000 after acquiring an additional 8,341 shares during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.
Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Quidel from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Barclays restated a “buy” rating and set a $65.00 price objective on shares of Quidel in a research report on Thursday, May 10th. TheStreet upgraded shares of Quidel from a “c” rating to a “b” rating in a research report on Tuesday, May 8th. ValuEngine upgraded shares of Quidel from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, William Blair reissued a “buy” rating on shares of Quidel in a research note on Friday, April 13th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $59.29.
In other news, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $56.02, for a total transaction of $672,240.00. Following the transaction, the chief executive officer now directly owns 306,313 shares in the company, valued at approximately $17,159,654.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $56.09, for a total transaction of $2,019,240.00. Following the sale, the chief executive officer now directly owns 306,313 shares of the company’s stock, valued at approximately $17,181,096.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,000 shares of company stock worth $7,299,360. 16.70% of the stock is owned by insiders.
Shares of Quidel opened at $63.25 on Friday, according to MarketBeat Ratings. The stock has a market capitalization of $2.31 billion, a P/E ratio of 100.90, a price-to-earnings-growth ratio of 1.06 and a beta of 0.90. Quidel Co. has a 52 week low of $59.65 and a 52 week high of $60.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.06 and a current ratio of 1.36.
Quidel (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.28. The firm had revenue of $169.10 million for the quarter, compared to analysts’ expectations of $151.50 million. Quidel had a net margin of 3.08% and a return on equity of 12.54%. The firm’s revenue was up 129.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 EPS. equities research analysts expect that Quidel Co. will post 2.33 earnings per share for the current year.
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 products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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