Equities analysts expect that Quidel Co. (NASDAQ:QDEL) will report sales of $157.98 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Quidel’s earnings, with the highest sales estimate coming in at $163.50 million and the lowest estimate coming in at $155.53 million. Quidel posted sales of $169.14 million during the same quarter last year, which suggests a negative year over year growth rate of 6.6%. The business is scheduled to announce its next quarterly earnings report on Tuesday, May 14th.
On average, analysts expect that Quidel will report full year sales of $533.62 million for the current fiscal year, with estimates ranging from $530.63 million to $539.60 million. For the next financial year, analysts expect that the firm will post sales of $565.22 million, with estimates ranging from $558.77 million to $577.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Quidel.
Quidel (NASDAQ:QDEL) last released its earnings results on Wednesday, February 13th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.21. The company had revenue of $132.59 million for the quarter, compared to analysts’ expectations of $132.26 million. Quidel had a net margin of 14.20% and a return on equity of 31.73%. Quidel’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 EPS.
QDEL has been the topic of several research analyst reports. ValuEngine cut shares of Quidel from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Barclays reduced their target price on shares of Quidel from $85.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, December 10th. Craig Hallum downgraded shares of Quidel from a “buy” rating to a “hold” rating and reduced their target price for the stock from $80.00 to $51.00 in a report on Monday, December 10th. Canaccord Genuity downgraded shares of Quidel to a “buy” rating in a report on Tuesday, December 11th. Finally, Zacks Investment Research downgraded shares of Quidel from a “buy” rating to a “hold” rating in a report on Saturday, February 16th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $71.50.
QDEL stock traded up $0.19 during mid-day trading on Thursday, hitting $65.05. The company had a trading volume of 113,547 shares, compared to its average volume of 265,529. The stock has a market cap of $2.57 billion, a P/E ratio of 23.07, a PEG ratio of 0.98 and a beta of 1.27. Quidel has a 12-month low of $44.27 and a 12-month high of $77.63. The company has a quick ratio of 0.86, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.
In related news, SVP Michael Donald Jr. Abney sold 23,513 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $65.00, for a total transaction of $1,528,345.00. Following the transaction, the senior vice president now directly owns 28,941 shares in the company, valued at approximately $1,881,165. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas C. Bryant sold 25,250 shares of the company’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $55.09, for a total transaction of $1,391,022.50. Following the transaction, the chief executive officer now owns 319,563 shares in the company, valued at $17,604,725.67. The disclosure for this sale can be found here. Insiders have sold a total of 220,254 shares of company stock worth $14,353,781 over the last quarter. 16.70% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of QDEL. Cutler Group LP bought a new position in Quidel in the 4th quarter worth about $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Quidel by 16.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,353 shares of the company’s stock worth $115,000 after acquiring an additional 333 shares in the last quarter. Quantamental Technologies LLC bought a new position in Quidel in the 4th quarter worth about $149,000. Meeder Asset Management Inc. grew its stake in Quidel by 383.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,659 shares of the company’s stock worth $173,000 after acquiring an additional 2,109 shares in the last quarter. Finally, Alambic Investment Management L.P. bought a new position in Quidel in the 3rd quarter worth about $205,000. Institutional investors own 88.89% of the company’s stock.
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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