BlackRock Fund Advisors recently announced the acquisition of new stake in Quidel Corporation (NASDAQ:QDEL). The institutional investor has increased its shareholding in the Healthcare company by 39.70% to 3.15 million shares with purchase of 0.9 million shares. This fresh investment now brings its stake to 7.51% valued currently at $890.52 million. In addition, Fidelity Management & Research Co.. raised its holdings by 1.5 million to 2.79 million shares. And Oracle Investment Management, Inc.. has lifted its position by 0.56% or 10111.0 shares – to 1.82 million shares.
With over 1.94 million Quidel Corporation (QDEL) shares trading Monday and a closing price of $175.96 on the day, the dollar volume was approximately $342.16 million. The shares have shown a negative weekly performance of -22.90% and its price on 08/31/20 gained nearly 7.97%. Currently, there are 42.12M common shares owned by the public and among those 37.01M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for QDEL have a consensus price objective of $264.75. The analysts have set the share’s price value over the next 12 months at a high of $363.00 and a low of $160.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Quidel Corporation stock is 2.50 for the next 12 months. The average price target is 33.54% above its last price level and an upside to the estimated low will see the stock lose -9.98% over that period. But an upside of 51.53% will see the stock hit the forecast high price target while mean target price for the stock is $268.00.
Insiders at the company have transacted a total of 121 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 70 of these insider trades were purchases, accounting for 729,012 shares. Insider sales of the common stock occurred on 51 occasions, with total insider shares sold totaling 621,022 shares.
The top 3 mutual fund holders in Quidel Corporation are Brown Capital Management – Small, Alger Funds – Small Cap Focus Fun, and iShares Core S&P Mid Cap ETF. Brown Capital Management – Small owns 1.55 million shares of the company’s stock, all valued at over $436.94 million. The company sold -0.93 million shares recently to bring their total holdings to about 3.68% of the shares outstanding. Alger Funds – Small Cap Focus Fun sold 25305.0 shares to see its total holdings shrink to 1.48 million shares valued at over $419.17 million and representing 3.53% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 5383.0 shares to bring its total holdings to over 1.01 million shares at a value of $286.21 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.41% of the shares outstanding.
Shares of Quidel Corporation (NASDAQ: QDEL) opened at $164.27, up $1.3 from a prior closing price of $162.97. However, the script later closed the day at $175.96, up 7.97%. The company’s stock has a 5-day price change of -22.90% and 4.37% over the past three months. QDEL shares are trading 134.52% year to date (YTD), with the 12-month market performance up to 179.08% higher. It has a 12-month low price of $55.25 and touched a high of $306.72 over the same period. Currently, 1.94 million shares have been traded, compared to an average intraday trading volume of 1.31 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -28.10%, -27.15%, and 27.65% respectively.
Institutional ownership of Quidel Corporation (NASDAQ: QDEL) shares accounts for 89.90% of the company’s 42.12M shares outstanding. Mutual fund holders own 30.16%, while other institutional holders and individual stakeholders account for 59.16% and 13.74% respectively.
It has a market capitalization of $7.91B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 49.37, while the earnings-per-share (ttm) stands at $3.56. The company has a PEG of 6.86 and a Quick Ratio of 1.10 with the debt-to-equity ratio at 0.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.17% over the week and 8.64% over the month.
Analysts forecast that Quidel Corporation (QDEL) will achieve an EPS of $4.06 for the current quarter, $4.84 for the next quarter and $15.62 for 2021. The lowest estimate earnings-per-share for the quarter is $3.88 while analysts give the company a high EPS estimate of $4.32. Comparatively, EPS for the current quarter was $0.7 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.50%, and 30.30% over the next financial year. EPS should shrink at an annualized rate of 7.20% over the next five years, compared to 59.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Quidel Corporation (QDEL) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 2 of the 6 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the QDEL, a number of firms have released research notes about the stock. JP Morgan stated their Underweight rating for the stock in a research note on May 12, 2020, with the firm’s price target at $120-$158. Barclays coverage for the Quidel Corporation (QDEL) stock in a research note released on March 26, 2020 offered a Equal Weight rating with a price target of $90. Raymond James was of a view on October 23, 2018 that the stock is Strong Buy, while Raymond James gave the stock Strong Buy rating on March 08, 2018, issuing a price target of. Barclays on their part issued Overweight rating on January 22, 2018.