Quidel Corporation [QDEL] Stock trading around $116.01 per share: What’s Next?

Quidel Corporation [NASDAQ: QDEL] price plunged by -5.08 percent to reach at -$6.21. The company report on April 23, 2021 that Quidel Signs Retail Distribution Agreement to Increase Access to At-Home COVID-19 Testing.

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National distribution fulfillment agreement will make QuickVue® At-Home rapid antigen tests available to families, schools and workplaces for use without a 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 completed a distribution and fulfillment agreement with McKesson Corporation, a global leader in healthcare supply chain management solutions and retail pharmacy, to expedite consumer access to Quidel’s non-prescription QuickVue® At-Home OTC COVID-19 Test.

A sum of 3500260 shares traded at recent session while its average daily volume was at 905.01K shares. Quidel Corporation shares reached a high of $116.15 and dropped to a low of $105.93 until finishing in the latest session at $116.01.

Guru’s Opinion on 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 6.89, with the Price to Sales ratio for QDEL stock in the period of the last 12 months amounting to 3.13. The Price to Book ratio for the last quarter was 3.67, with the Price to Cash per share for the same quarter was set at 10.93. Price to Free Cash Flow for QDEL in the course of the last twelve months was 9.20 with Quick ratio for the last quarter at 3.10.

QDEL Stock Performance Analysis:

Quidel Corporation [QDEL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.95. With this latest performance, QDEL shares dropped by -9.92% in over the last four-week period, additionally sinking by -52.06% over the last 6 months – not to mention a drop of -7.24% 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 33.20, with the RSI for the last a single of trading hit 31.58, and the three-weeks RSI is set at 34.48 for Quidel Corporation [QDEL]. The present Moving Average for the last 50 days of trading for this stock 147.12, while it was recorded at 119.81 for the last single week of trading, and 203.19 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 +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 5.24 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.

QDEL Stock EPS

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 Position Details

There are presently around $4,003 million, or 87.70% 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 $418.16 million in QDEL stocks shares; and BLACKROCK INC., currently with $407.3 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 May and at the time of the May reporting period, where 224 institutional holders increased their position in Quidel Corporation [NASDAQ:QDEL] by around 3,056,503 shares. Additionally, 207 investors decreased positions by around 4,707,790 shares, while 41 investors held positions by with 26,741,946 shares. The mentioned changes placed institutional holdings at 34,506,239 shares, according to the latest SEC report filing. QDEL stock had 79 new institutional investments in for a total of 370,450 shares, while 84 institutional investors sold positions of 963,757 shares during the same period.

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