Quidel Co. (NASDAQ:QDEL) Given Average Rating of “Buy” by Analysts

Posted by on Jun 3rd, 2022

Quidel Co. (NASDAQ:QDEL – Get Rating) has earned a consensus recommendation of “Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $143.50.

Several analysts recently commented on the company. TheStreet cut Quidel from a “b-” rating to a “c+” rating in a research report on Thursday, February 10th. StockNews.com upgraded Quidel from a “hold” rating to a “buy” rating in a research note on Friday, May 13th. Finally, Raymond James raised Quidel from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $155.00 to $130.00 in a report on Tuesday, February 22nd.

In other Quidel news, Director Mary Lake Ph D. Polan sold 1,525 shares of the business’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $113.59, for a total transaction of $173,224.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its position in shares of Quidel by 4.3% in the 4th quarter. HighTower Advisors LLC now owns 4,541 shares of the company’s stock worth $610,000 after buying an additional 187 shares during the period. Nisa Investment Advisors LLC lifted its position in Quidel by 131.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,389 shares of the company’s stock worth $144,000 after buying an additional 789 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Quidel by 23.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 197,278 shares of the company’s stock valued at $26,630,000 after acquiring an additional 37,922 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Quidel by 36.6% in the third quarter. Dimensional Fund Advisors LP now owns 377,442 shares of the company’s stock valued at $53,275,000 after acquiring an additional 101,112 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Quidel during the fourth quarter worth about $66,000. 92.89% of the stock is currently owned by institutional investors.

NASDAQ:QDEL opened at $92.59 on Friday. Quidel has a 1-year low of $88.05 and a 1-year high of $180.06. The firm’s 50-day moving average price is $104.69 and its 200-day moving average price is $114.68. The company has a market capitalization of $3.87 billion, a PE ratio of 3.91 and a beta of 0.03.

Quidel (NASDAQ:QDEL – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $11.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.17 by $2.36. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $865.05 million. Quidel had a net margin of 43.26% and a return on equity of 56.46%. The company’s revenue was up 167.0% on a year-over-year basis. During the same period last year, the firm posted $4.27 EPS. As a group, analysts expect that Quidel will post 16.3 EPS for the current fiscal year.

About Quidel (Get Rating)

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 POC products to detect infectious and inflammatory diseases and conditions of the eye.

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