GWM Advisors LLC acquired a new position in shares of Quidel Co. (NASDAQ:QDEL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,705 shares of the company’s stock, valued at approximately $1,053,000.
Several other hedge funds have also made changes to their positions in QDEL. Trustcore Financial Services LLC increased its stake in shares of Quidel by 73.3% in the second quarter. Trustcore Financial Services LLC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 55 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of Quidel in the first quarter valued at about $31,000. Valeo Financial Advisors LLC increased its stake in shares of Quidel by 144.9% in the second quarter. Valeo Financial Advisors LLC now owns 169 shares of the company’s stock valued at $38,000 after buying an additional 100 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Quidel by 70.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 475 shares of the company’s stock valued at $46,000 after buying an additional 197 shares during the period. Finally, Sound Income Strategies LLC acquired a new stake in Quidel during the second quarter worth approximately $75,000. Institutional investors and hedge funds own 87.02% of the company’s stock.
In other news, SVP Werner Kroll sold 68,152 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $174.44, for a total value of $11,888,434.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary Lake Ph D. Polan sold 6,700 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $204.27, for a total value of $1,368,609.00. Following the completion of the transaction, the director now owns 27,484 shares in the company, valued at approximately $5,614,156.68. The disclosure for this sale can be found here. Insiders sold 143,164 shares of company stock worth $26,211,364 in the last 90 days. Corporate insiders own 14.10% of the company’s stock.
QDEL stock opened at $282.47 on Friday. Quidel Co. has a twelve month low of $52.49 and a twelve month high of $287.88. The company has a quick ratio of 1.67, a current ratio of 2.10 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $229.94 and its 200-day moving average is $139.90. The firm has a market capitalization of $11.86 billion, a PE ratio of 79.12 and a beta of 1.16.
Quidel (NASDAQ:QDEL) last posted its earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.16. Quidel had a return on equity of 34.54% and a net margin of 23.61%. The company had revenue of $174.65 million for the quarter, compared to analyst estimates of $157.12 million. On average, equities research analysts anticipate that Quidel Co. will post 7.25 earnings per share for the current fiscal year.
Several equities research analysts recently commented on the company. JPMorgan Chase & Co. cut Quidel from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $120.00 to $158.00 in a research note on Tuesday, May 12th. Craig Hallum raised their target price on Quidel from $306.00 to $363.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler raised their target price on Quidel from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Zacks Investment Research cut Quidel from a “buy” rating to a “hold” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $177.29.
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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