5,400 Shares in Quidel Co. (NASDAQ:QDEL) Acquired by Canada Pension Plan Investment Board

Christel Deskins

Canada Pension Plan Investment Board purchased a new position in Quidel Co. (NASDAQ:QDEL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,400 shares of the company’s stock, valued at approximately $1,208,000. Other institutional investors and hedge funds […]

Canada Pension Plan Investment Board purchased a new position in Quidel Co. (NASDAQ:QDEL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,400 shares of the company’s stock, valued at approximately $1,208,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank grew its holdings in shares of Quidel by 15.8% in the 2nd quarter. Swiss National Bank now owns 84,200 shares of the company’s stock worth $18,839,000 after acquiring an additional 11,500 shares during the period. ClariVest Asset Management LLC grew its holdings in shares of Quidel by 9.6% in the 2nd quarter. ClariVest Asset Management LLC now owns 14,200 shares of the company’s stock worth $3,178,000 after acquiring an additional 1,242 shares during the period. American International Group Inc. grew its holdings in shares of Quidel by 239.6% in the 2nd quarter. American International Group Inc. now owns 71,924 shares of the company’s stock worth $16,092,000 after acquiring an additional 50,742 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Quidel by 176.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 49,999 shares of the company’s stock worth $11,187,000 after acquiring an additional 31,899 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Quidel by 171.5% in the 1st quarter. Deutsche Bank AG now owns 39,868 shares of the company’s stock worth $3,900,000 after acquiring an additional 25,184 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

In related news, CFO Randall J. Steward sold 21,166 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $286.31, for a total transaction of $6,060,037.46. Following the transaction, the chief financial officer now owns 12,623 shares in the company, valued at $3,614,091.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Werner Kroll sold 2,072 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $287.48, for a total transaction of $595,658.56. Following the transaction, the senior vice president now owns 4,599 shares in the company, valued at approximately $1,322,120.52. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 20,800 shares of company stock worth $4,270,515 and have sold 28,848 shares worth $8,058,196. Insiders own 14.10% of the company’s stock.

QDEL opened at $189.31 on Friday. The business’s 50 day moving average is $214.65 and its 200-day moving average is $173.12. The stock has a market cap of $7.94 billion, a PE ratio of 53.03 and a beta of 0.99. Quidel Co. has a twelve month low of $55.25 and a twelve month high of $306.72.

Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.65. The company had revenue of $201.75 million for the quarter, compared to analysts’ expectations of $201.40 million. Quidel had a return on equity of 33.86% and a net margin of 23.61%. On average, equities analysts forecast that Quidel Co. will post 11.96 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on QDEL shares. BidaskClub upgraded Quidel from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler upped their target price on Quidel from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Craig Hallum upped their target price on Quidel from $306.00 to $363.00 and gave the company a “buy” rating in a research note on Friday, July 31st. ValuEngine lowered Quidel from a “hold” rating to a “sell” rating in a research note on Thursday, August 27th. Finally, Zacks Investment Research raised Quidel from a “hold” rating to a “strong-buy” rating and set a $325.00 price target on the stock in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $209.00.

About Quidel

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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Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

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