Quidel Corporation [QDEL] Revenue clocked in at $1.66 billion, down -27.63% YTD: What’s Next?

Quidel Corporation [NASDAQ: QDEL] plunged by -$25.87 during the normal trading session on Wednesday and reaching a high of $161.21 during the day while it closed the day at $130.01. The company report on March 1, 2021 that Quidel Receives Emergency Use Authorization for QuickVue® At-Home COVID-19 Test.

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Easy-to-use at-home test provides results in ten minutes with a doctor’s prescription.

Quidel Corporation (NASDAQ: QDEL) (“Quidel”), a leading provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced that it has received an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA), allowing the company to market its new QuickVue® At-Home COVID-19 Test for the qualitative detection of the nucleocapsid protein antigen from SARS-CoV-2. This test is authorized for prescription home use with self-collected (unobserved) anterior nares (NS) swab specimens directly from individuals aged 14 years and older who are suspected of COVID-19 by their healthcare provider within the first six days of the onset of symptoms. This test is also authorized for prescription home use with adult-collected anterior NS samples directly from individuals aged 8 years or older who are suspected of COVID-19 by their healthcare provider within the first six days of the onset of symptoms.

Quidel Corporation stock has also loss -14.24% of its value over the past 7 days. However, QDEL stock has declined by -32.96% in the 3 months of the year. Over the past six months meanwhile, it has lost -14.46% and lost -27.63% year-on date.

The market cap for QDEL stock reached $5.38 billion, with 42.22 million shares outstanding and 37.09 million shares in the current float. Compared to the average trading volume of 889.00K shares, QDEL reached a trading volume of 3291502 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Quidel Corporation [QDEL]:

Raymond James have made an estimate for Quidel Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 22, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price from $120 to $158. The new note on the price target was released on May 12, 2020, representing the official price target for Quidel Corporation stock. Previously, the target price had yet another raise to $90, while Barclays analysts kept a Equal Weight rating on QDEL stock.

The Average True Range (ATR) for Quidel Corporation is set at 14.39, with the Price to Sales ratio for QDEL stock in the period of the last 12 months amounting to 3.24. The Price to Book ratio for the last quarter was 4.12, with the Price to Cash per share for the same quarter was set at 11.84. Price to Free Cash Flow for QDEL in the course of the last twelve months was 9.53 with Quick ratio for the last quarter at 3.10.

QDEL stock trade performance evaluation

Quidel Corporation [QDEL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.24. With this latest performance, QDEL shares dropped by -44.17% in over the last four-week period, additionally sinking by -14.46% over the last 6 months – not to mention a rise of 60.64% 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 24.50, with the RSI for the last a single of trading hit 19.35, and the three-weeks RSI is set at 29.44 for Quidel Corporation [QDEL]. The present Moving Average for the last 50 days of trading for this stock 199.82, while it was recorded at 147.53 for the last single week of trading, and 212.84 for the last 200 days.

Quidel Corporation [QDEL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Quidel Corporation [QDEL] shares currently have an operating margin of +64.12 and a Gross Margin at +81.17. Quidel Corporation’s Net Margin is presently recorded at +48.76.

Return on Total Capital for QDEL is now 100.39, given the latest momentum, and Return on Invested Capital for the company is 77.36. Return on Equity for this stock inclined to 85.63, with Return on Assets sitting at 56.85. When it comes to the capital structure of this company, Quidel Corporation [QDEL] has a Total Debt to Total Equity ratio set at 8.47. Additionally, QDEL Total Debt to Total Capital is recorded at 7.81, with Total Debt to Total Assets ending up at 5.91. Long-Term Debt to Equity for the company is recorded at 7.86, with the Long-Term Debt to Total Capital now at 7.25.

Reflecting on the efficiency of the workforce at the company, Quidel Corporation [QDEL] managed to generate an average of $591,450 per employee. Receivables Turnover for the company is 5.22 with a Total Asset Turnover recorded at a value of 1.17.Quidel Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.40.

Earnings per share (EPS) analysis for Quidel Corporation [QDEL] stock

With the latest financial reports released by the company, Quidel Corporation posted 1.22/share EPS, while the average EPS was predicted by analysts to be reported at 0.95/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 28.40%. 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 Ownership positions

There are presently around $4,489 million, or 82.60% 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 4,261,838, which is approximately 0.593% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 3,604,549 shares of the stock with an approximate value of $468.63 million in QDEL stocks shares; and BLACKROCK INC., currently with $456.45 million in QDEL stock with ownership of nearly 2.902% 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 224 institutional holders increased their position in Quidel Corporation [NASDAQ:QDEL] by around 3,053,313 shares. Additionally, 212 investors decreased positions by around 4,727,947 shares, while 40 investors held positions by with 26,746,422 shares. The mentioned changes placed institutional holdings at 34,527,682 shares, according to the latest SEC report filing. QDEL stock had 80 new institutional investments in for a total of 369,855 shares, while 84 institutional investors sold positions of 958,852 shares during the same period.

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