Winslow Evans & Crocker Inc. increased its holdings in shares of Quidel Co. (NASDAQ:QDEL) by 26.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,470 shares of the company’s stock after purchasing an additional 944 shares during the period. Winslow Evans & Crocker Inc.’s holdings in Quidel were worth $292,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. NewSquare Capital LLC purchased a new position in Quidel during the 2nd quarter worth $178,000. Great West Life Assurance Co. Can grew its stake in Quidel by 55.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock valued at $227,000 after purchasing an additional 1,220 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Quidel during the 1st quarter valued at about $241,000. Castle Rock Wealth Management LLC purchased a new stake in Quidel during the 2nd quarter valued at about $327,000. Finally, Amalgamated Bank purchased a new stake in Quidel during the 2nd quarter valued at about $333,000. Hedge funds and other institutional investors own 88.44% of the company’s stock.
In other news, CEO Douglas C. Bryant sold 25,250 shares of the company’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $65.19, for a total value of $1,646,047.50. Following the sale, the chief executive officer now owns 319,563 shares in the company, valued at $20,832,311.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas C. Bryant sold 12,000 shares of the company’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $65.84, for a total value of $790,080.00. Following the completion of the sale, the chief executive officer now owns 306,313 shares in the company, valued at approximately $20,167,647.92. The disclosure for this sale can be found here. Insiders sold 180,450 shares of company stock worth $12,498,085 in the last 90 days. Company insiders own 16.70% of the company’s stock.
Shares of QDEL opened at $63.74 on Tuesday. Quidel Co. has a 52 week low of $33.01 and a 52 week high of $77.63. The company has a current ratio of 1.10, a quick ratio of 0.71 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $2.54 billion, a PE ratio of -910.57, a P/E/G ratio of 1.04 and a beta of 1.00.
Quidel (NASDAQ:QDEL) last issued its earnings results on Tuesday, August 7th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Quidel had a return on equity of 19.39% and a net margin of 4.63%. The firm had revenue of $103.16 million for the quarter, compared to the consensus estimate of $102.15 million. On average, research analysts predict that Quidel Co. will post 2.51 EPS for the current fiscal year.
Several analysts have weighed in on QDEL shares. BidaskClub downgraded Quidel from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. ValuEngine downgraded Quidel from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Barclays boosted their price target on Quidel from $65.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. Piper Jaffray Companies reiterated an “overweight” rating and set a $74.00 price target on shares of Quidel in a research note on Wednesday, August 8th. Finally, Craig Hallum boosted their price target on Quidel from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Quidel presently has an average rating of “Buy” and an average price target of $70.14.
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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