Quidel Corporation [QDEL] Stock trading around $204.49 per share: What’s Next?

Quidel Corporation [NASDAQ: QDEL] stock went on an upward path that rose over 3.26% on Friday, amounting to a one-week price increase of more than 2.99%. The company report on January 8, 2021 that Quidel Announces Preliminary Revenue for Fourth Quarter 2020; Will Present Virtually at 39th Annual J.P. Morgan Healthcare Conference.

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Quidel Corporation (NASDAQ: QDEL) (“Quidel”), a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced that it expects revenues in the fourth quarter of 2020 to be in the range of $808 million to $810 million, up from $476 million in the prior quarter.

“The COVID-19 pandemic has presented challenges to all companies. At Quidel, our people have responded at every level and function — from R&D and regulatory to supply chain and manufacturing. Due to the hard work and dedication of our people, we had another record quarter, and our best year yet,” said Douglas Bryant, president and chief executive officer of Quidel Corporation. “We continue to see strong demand for our COVID-19 diagnostic products; in fact, open orders at the end of 2020 were approximately 25% of what we shipped the entire year. We’ve increased the scale meaningfully of our QuickVue and Sofia tests, and expect to scale further from a current combined 13 million tests per month, to over 70 million tests per month by the end of 2021. In 2020, we shipped over 23,000 Sofia analyzers to new and existing customers, over 14,000 of which shipped in Q4 alone. Further, we expect another 20,000 Sofia analyzers will be shipped to new customers in the first quarter alone,” added Mr. Bryant.

Over the last 12 months, QDEL stock rose by 173.05%. The one-year Quidel Corporation stock forecast points to a potential upside of 23.98. The average equity rating for QDEL stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $8.33 billion, with 42.11 million shares outstanding and 37.11 million shares in the current float. Compared to the average trading volume of 912.46K shares, QDEL stock reached a trading volume of 975013 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Quidel Corporation [QDEL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QDEL shares is $269.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QDEL stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Quidel Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on May 12, 2020. The new note on the price target was released on March 26, 2020, representing the official price target for Quidel Corporation stock. Previously, the target price had yet another raise to $80, while Raymond James analysts kept a Strong Buy rating on QDEL stock.

The Average True Range (ATR) for Quidel Corporation is set at 12.29, with the Price to Sales ratio for QDEL stock in the period of the last 12 months amounting to 8.29. The Price to Book ratio for the last quarter was 10.14, with the Price to Cash per share for the same quarter was set at 1.90. Price to Free Cash Flow for QDEL in the course of the last twelve months was 42.99 with Quick ratio for the last quarter at 2.20.

QDEL Stock Performance Analysis:

Quidel Corporation [QDEL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.99. With this latest performance, QDEL shares gained by 1.81% in over the last four-week period, additionally sinking by -23.41% over the last 6 months – not to mention a rise of 173.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QDEL stock in for the last two-week period is set at 54.35, with the RSI for the last a single of trading hit 58.55, and the three-weeks RSI is set at 51.74 for Quidel Corporation [QDEL]. The present Moving Average for the last 50 days of trading for this stock 199.93, while it was recorded at 200.73 for the last single week of trading, and 201.36 for the last 200 days.

Insight into Quidel Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Quidel Corporation [QDEL] shares currently have an operating margin of +19.79 and a Gross Margin at +59.98. Quidel Corporation’s Net Margin is presently recorded at +13.63.

Return on Total Capital for QDEL is now 17.49, given the latest momentum, and Return on Invested Capital for the company is 12.84. Return on Equity for this stock inclined to 14.80, with Return on Assets sitting at 8.30. When it comes to the capital structure of this company, Quidel Corporation [QDEL] has a Total Debt to Total Equity ratio set at 20.93. Additionally, QDEL Total Debt to Total Capital is recorded at 17.30, with Total Debt to Total Assets ending up at 12.45. Long-Term Debt to Equity for the company is recorded at 17.43, with the Long-Term Debt to Total Capital now at 14.42.

Reflecting on the efficiency of the workforce at the company, Quidel Corporation [QDEL] managed to generate an average of $58,337 per employee. Receivables Turnover for the company is 5.82 with a Total Asset Turnover recorded at a value of 0.61.Quidel Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.70.

QDEL Stock EPS

With the latest financial reports released by the company, Quidel Corporation posted 1/share EPS, while the average EPS was predicted by analysts to be reported at 0.82/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 22.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QDEL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Quidel Corporation go to 7.20%.

Quidel Corporation [QDEL] Insider Position Details

There are presently around $7,230 million, or 87.30% of QDEL stock, in the hands of institutional investors. The top three institutional holders of QDEL stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 4,236,715, which is approximately 11.901% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 3,513,536 shares of the stock with an approximate value of $718.48 million in QDEL stocks shares; and BLACKROCK INC., currently with $697.7 million in QDEL stock with ownership of nearly -2.944% of the company’s market capitalization.

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Positions in Quidel Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 245 institutional holders increased their position in Quidel Corporation [NASDAQ:QDEL] by around 5,145,388 shares. Additionally, 186 investors decreased positions by around 6,564,574 shares, while 23 investors held positions by with 23,647,548 shares. The mentioned changes placed institutional holdings at 35,357,510 shares, according to the latest SEC report filing. QDEL stock had 117 new institutional investments in for a total of 1,631,903 shares, while 57 institutional investors sold positions of 533,745 shares during the same period.

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