Quidel Co. (NASDAQ:QDEL) Expected to Post Earnings of $3.38 Per Share

Wall Street brokerages forecast that Quidel Co. (NASDAQ:QDELGet Rating) will announce earnings of $3.38 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Quidel’s earnings, with the lowest EPS estimate coming in at $3.07 and the highest estimate coming in at $3.73. Quidel posted earnings per share of $0.75 in the same quarter last year, which indicates a positive year-over-year growth rate of 350.7%. The business is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Quidel will report full year earnings of $16.78 per share for the current year, with EPS estimates ranging from $16.20 to $17.36. For the next financial year, analysts expect that the company will report earnings of $4.92 per share, with EPS estimates ranging from $3.64 to $6.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Quidel.

Quidel (NASDAQ:QDELGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $11.53 earnings per share for the quarter, beating analysts’ consensus estimates of $9.17 by $2.36. Quidel had a return on equity of 56.46% and a net margin of 43.26%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $865.05 million. During the same quarter last year, the company earned $4.27 EPS. The firm’s revenue for the quarter was up 167.0% on a year-over-year basis.

A number of analysts have commented on the company. StockNews.com raised Quidel from a “hold” rating to a “buy” rating in a report on Friday, May 13th. Raymond James raised Quidel from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $155.00 to $130.00 in a report on Tuesday, February 22nd. Finally, TheStreet lowered Quidel from a “b-” rating to a “c+” rating in a report on Thursday, February 10th. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $143.50.

In related news, Director Mary Lake Ph D. Polan sold 1,525 shares of Quidel stock in a transaction on Friday, March 18th. The stock was sold at an average price of $113.59, for a total transaction of $173,224.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.

A number of large investors have recently bought and sold shares of QDEL. BlackRock Inc. increased its holdings in shares of Quidel by 1.2% in the fourth quarter. BlackRock Inc. now owns 3,301,994 shares of the company’s stock worth $445,736,000 after purchasing an additional 38,137 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Quidel by 13.1% in the third quarter. Wellington Management Group LLP now owns 1,734,826 shares of the company’s stock worth $244,871,000 after purchasing an additional 201,579 shares during the last quarter. Senvest Management LLC increased its holdings in shares of Quidel by 47.3% in the fourth quarter. Senvest Management LLC now owns 1,274,098 shares of the company’s stock worth $171,990,000 after purchasing an additional 409,271 shares during the last quarter. State Street Corp increased its stake in Quidel by 7.0% during the first quarter. State Street Corp now owns 1,106,702 shares of the company’s stock worth $124,460,000 after acquiring an additional 72,308 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in Quidel by 16.8% during the third quarter. ArrowMark Colorado Holdings LLC now owns 995,677 shares of the company’s stock worth $140,540,000 after acquiring an additional 143,085 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of Quidel stock traded up $1.58 on Friday, reaching $99.91. The company’s stock had a trading volume of 405,135 shares, compared to its average volume of 627,359. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 4.22 and a beta of 0.02. The firm’s fifty day simple moving average is $106.90 and its two-hundred day simple moving average is $116.65. Quidel has a 52 week low of $88.05 and a 52 week high of $180.06.

About Quidel (Get Rating)

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 worldwide. It offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus, a POC products to detect infectious and inflammatory diseases and conditions of the eye.

Recommended Stories

Get a free copy of the Zacks research report on Quidel (QDEL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Quidel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quidel and related companies with MarketBeat.com's FREE daily email newsletter.