Analysts forecast that Quidel Co. (NASDAQ:QDEL) will post $102.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Quidel’s earnings, with the highest sales estimate coming in at $102.90 million and the lowest estimate coming in at $101.76 million. Quidel posted sales of $38.27 million during the same quarter last year, which suggests a positive year-over-year growth rate of 166.9%. The company is scheduled to announce its next earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that Quidel will report full-year sales of $517.59 million for the current financial year, with estimates ranging from $511.70 million to $521.77 million. For the next year, analysts expect that the firm will post sales of $522.09 million per share, with estimates ranging from $519.76 million to $525.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Quidel.
Get Quidel alerts:Quidel (NASDAQ:QDEL) last issued its quarterly earnings results on Tuesday, May 8th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.28. The business had revenue of $169.10 million for the quarter, compared to the consensus estimate of $151.50 million. Quidel had a return on equity of 12.54% and a net margin of 3.08%. The business’s quarterly revenue was up 129.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share.
A number of equities analysts have recently issued reports on QDEL shares. Raymond James raised Quidel from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $55.00 to $47.00 in a research report on Thursday, March 8th. Zacks Investment Research raised shares of Quidel from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Craig Hallum initiated coverage on shares of Quidel in a report on Monday, March 26th. They set a “buy” rating and a $62.00 price objective on the stock. UBS Group raised shares of Quidel from an “outperform” rating to a “strong-buy” rating in a report on Thursday, March 8th. Finally, William Blair reissued a “buy” rating on shares of Quidel in a report on Friday, April 13th. One research analyst has rated the stock with a hold rating, six have given a buy rating and four have issued a strong buy rating to the company. Quidel has a consensus rating of “Buy” and a consensus price target of $59.29.
In other Quidel news, CEO Douglas C. Bryant sold 36,000 shares of the company’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $56.09, for a total value of $2,019,240.00. Following the sale, the chief executive officer now directly owns 306,313 shares of the company’s stock, valued at $17,181,096.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas C. Bryant sold 12,000 shares of the company’s stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $51.51, for a total transaction of $618,120.00. Following the completion of the sale, the chief executive officer now directly owns 306,313 shares in the company, valued at $15,778,182.63. The disclosure for this sale can be found here. Insiders have sold 201,006 shares of company stock worth $11,728,499 over the last three months. Corporate insiders own 16.70% of the company’s stock.
A number of large investors have recently bought and sold shares of QDEL. Schwab Charles Investment Management Inc. boosted its holdings in Quidel by 6.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 192,647 shares of the company’s stock valued at $8,352,000 after purchasing an additional 10,843 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Quidel in the fourth quarter valued at $421,000. California Public Employees Retirement System boosted its holdings in Quidel by 2.9% in the fourth quarter. California Public Employees Retirement System now owns 59,799 shares of the company’s stock valued at $2,592,000 after purchasing an additional 1,696 shares during the last quarter. First Trust Advisors LP purchased a new stake in Quidel in the fourth quarter valued at $2,827,000. Finally, Wells Fargo & Company MN boosted its holdings in Quidel by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 49,952 shares of the company’s stock valued at $2,165,000 after purchasing an additional 10,977 shares during the last quarter. 90.27% of the stock is currently owned by institutional investors.
Shares of Quidel traded up $0.10, reaching $68.37, during trading hours on Tuesday, Marketbeat.com reports. 12,490 shares of the company’s stock were exchanged, compared to its average volume of 329,686. The company has a market cap of $2.60 billion, a PE ratio of -975.29, a PEG ratio of 1.21 and a beta of 0.91. The company has a current ratio of 1.36, a quick ratio of 1.06 and a debt-to-equity ratio of 0.40. Quidel has a fifty-two week low of $25.87 and a fifty-two week high of $70.28.
Quidel Company Profile
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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