Finally Time To Cut Your Stake? Raymond James Downgrades Quidel (NASDAQ:QDEL) Shares


Quidel (NASDAQ:QDEL) Receives a Downgrade

In an analyst note revealed to investors and clients on Monday morning, research analysts at Raymond James’s equity division downgraded the rating for Quidel (NASDAQ:QDEL) shares from the previous Outperform to a Mkt Perform.

From a total of 6 analysts covering Quidel (NASDAQ:QDEL) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 56% of the ratings are positive. The highest target price is $30 while the lowest target price is $18. The mean of all analyst targets is $24.17 with a 16.99% above today’s ($21.37) stock price. Quidel was the topic of 3 analyst reports since September 2, 2015 according to the firm StockzIntelligence Inc. Craig Hallum downgraded shares on October 23 to “Hold” rating.

Approximately 132,511 shares of stock traded hands. Quidel Corporation (NASDAQ:QDEL) has declined 3.50% since May 11, 2015 and is downtrending. It has outperformed by 0.92% the S&P500.

The overall sentiment of institutions has decreased to 1.1 in Q2 2015. Its down 0.45, from 1.55 in 2015Q2. The ratio fall, as 19 institutions have sold all the shares of Quidel Corporation that they owned while 29 funds have taken shares off the table. 8 funds have purchased shares for the first time while 45 added to their positions. These institutions now hold 30.10 million shares or 9.68% less than the 33.33 million shares they owned in 2015Q2.

The Fund Oracle Investment Management Inc currently is holding shares equating to 10.88% of its total portfolio in Quidel Corporation representing a total of 2.82 million shares. Another fund,Investment Management Of Virginia Llc, is holding a total of 415,406 shares equating to 2.07% of their holdings. Additionally, First Light Asset Management Llc has a 201,067 share stake in Quidel Corporation which represents 1.88% of their total portfolio. The Fund, Brown Capital Management Llc, based out of Maryland, has also built up a stake in the stock, which represents a total of 1.84% of their total portfolio. Finally Wall Street Associates, a fund which is based in the state of California reported a total holdings of 331,800 shares.

Insider activity is a very important aspect to track on any stock. Going back to August 3, 2015, shareholders of Quidel Corporation have witnessed 0 buys, and a total of 1 insider sale equating to a net activity of approximately $134,861 . Tamerius John sold 6,409 shares worth approximately $134,861.

Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. The company has a market cap of $726.32 million. These diagnostic testing solutions primarily include applications in infectious diseases, women’s health and gastrointestinal diseases. It has 584.36 P/E ratio. The Firm sells its products directly to end users and distributors, in each case, for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, universities, retail clinics and wellness screening centers.

According to Zacks Investment Research, “Quidel Corp. discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women’s health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis.”