Brokerages Expect Quidel Co. (QDEL) Will Announce Earnings of $0.62 Per Share

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Equities analysts forecast that Quidel Co. (NASDAQ:QDEL) will report earnings per share of $0.62 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Quidel’s earnings, with estimates ranging from $0.50 to $0.69. Quidel reported earnings per share of ($0.11) during the same quarter last year, which suggests a positive year-over-year growth rate of 663.6%. The business is expected to issue its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that Quidel will report full year earnings of $2.88 per share for the current financial year, with EPS estimates ranging from $2.74 to $2.96. For the next year, analysts expect that the company will post earnings of $2.97 per share, with EPS estimates ranging from $2.82 to $3.08. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Quidel.

Quidel (NASDAQ:QDEL) last issued its earnings results on Tuesday, November 6th. The company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.16. Quidel had a return on equity of 25.63% and a net margin of 7.26%. The company had revenue of $117.40 million during the quarter, compared to the consensus estimate of $120.09 million. During the same period in the previous year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 130.6% compared to the same quarter last year.

Several brokerages have recently commented on QDEL. ValuEngine downgraded Quidel from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research downgraded Quidel from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. BidaskClub upgraded Quidel from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 5th. Raymond James reiterated a “strong-buy” rating and set a $80.00 target price on shares of Quidel in a research note on Tuesday, October 23rd. Finally, TheStreet upgraded Quidel from a “c+” rating to a “b” rating in a research note on Wednesday, November 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given 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 an average target price of $74.29.

Shares of NASDAQ QDEL traded down $12.59 during midday trading on Friday, hitting $48.73. 1,159,541 shares of the company’s stock were exchanged, compared to its average volume of 189,770. The company has a current ratio of 1.26, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Quidel has a 12 month low of $39.16 and a 12 month high of $77.63. The company has a market capitalization of $1.92 billion, a P/E ratio of -696.14, a P/E/G ratio of 0.75 and a beta of 1.04.

In related news, VP Edward Keith Russell sold 13,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $72.29, for a total value of $939,770.00. Following the completion of the sale, the vice president now directly owns 16,493 shares in the company, valued at approximately $1,192,278.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Randall J. Steward sold 15,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $61.51, for a total value of $922,650.00. Following the completion of the sale, the chief financial officer now owns 16,790 shares of the company’s stock, valued at $1,032,752.90. The disclosure for this sale can be found here. Insiders sold a total of 78,500 shares of company stock valued at $5,081,373 over the last 90 days. 16.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Quidel by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,929,387 shares of the company’s stock valued at $190,909,000 after purchasing an additional 152,702 shares during the period. BlackRock Inc. raised its holdings in Quidel by 4.7% in the 3rd quarter. BlackRock Inc. now owns 2,291,654 shares of the company’s stock valued at $149,348,000 after acquiring an additional 102,724 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Quidel by 15.9% in the 3rd quarter. Macquarie Group Ltd. now owns 963,519 shares of the company’s stock valued at $62,792,000 after acquiring an additional 131,980 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Quidel by 4.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 902,018 shares of the company’s stock valued at $59,984,000 after acquiring an additional 41,789 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Quidel by 225.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 652,048 shares of the company’s stock valued at $42,493,000 after acquiring an additional 451,940 shares in the last quarter. Institutional investors and hedge funds own 90.02% 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 products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

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