Chartwell Investment Partners LLC Sells 17,530 Shares of Quidel Co. (NASDAQ:QDEL)

Chartwell Investment Partners LLC trimmed its holdings in Quidel Co. (NASDAQ:QDEL) by 45.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,322 shares of the company’s stock after selling 17,530 shares during the period. Chartwell Investment Partners LLC owned 0.05% of Quidel worth $4,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in Quidel by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 162,928 shares of the company’s stock valued at $12,224,000 after purchasing an additional 4,372 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Quidel by 7.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 37,755 shares of the company’s stock worth $2,833,000 after buying an additional 2,719 shares during the period. Janus Henderson Group PLC grew its stake in Quidel by 6.0% in the 4th quarter. Janus Henderson Group PLC now owns 24,173 shares of the company’s stock valued at $1,814,000 after buying an additional 1,368 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Quidel by 0.4% in the 4th quarter. Alliancebernstein L.P. now owns 49,549 shares of the company’s stock valued at $3,718,000 after acquiring an additional 200 shares during the period. Finally, Geode Capital Management LLC lifted its position in Quidel by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 500,983 shares of the company’s stock worth $37,588,000 after acquiring an additional 19,560 shares during the last quarter. Institutional investors own 87.02% of the company’s stock.

QDEL has been the topic of a number of recent research reports. Craig Hallum increased their target price on Quidel from $306.00 to $363.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research cut Quidel from a “buy” rating to a “hold” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. downgraded Quidel from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $120.00 to $158.00 in a report on Tuesday, May 12th. Finally, Piper Sandler upped their price target on shares of Quidel from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Quidel presently has an average rating of “Hold” and a consensus target price of $177.29.

In related news, Director Mary Lake Ph D. Polan sold 6,700 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $204.27, for a total value of $1,368,609.00. Following the completion of the transaction, the director now owns 27,484 shares of the company’s stock, valued at approximately $5,614,156.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas C. Bryant bought 5,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $160.33 per share, for a total transaction of $801,650.00. Following the transaction, the chief executive officer now directly owns 445,823 shares of the company’s stock, valued at $71,478,801.59. The disclosure for this purchase can be found here. In the last quarter, insiders sold 143,164 shares of company stock worth $26,211,364. Company insiders own 14.10% of the company’s stock.

NASDAQ QDEL opened at $282.47 on Friday. The business has a fifty day moving average price of $229.94 and a two-hundred day moving average price of $139.90. The stock has a market capitalization of $11.86 billion, a PE ratio of 79.12 and a beta of 1.16. Quidel Co. has a fifty-two week low of $52.49 and a fifty-two week high of $287.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.10 and a quick ratio of 1.67.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Quidel had a return on equity of 34.54% and a net margin of 23.61%. The company had revenue of $174.65 million during the quarter, compared to analysts’ expectations of $157.12 million. As a group, sell-side analysts expect that Quidel Co. will post 7.25 earnings per share for the current year.

About Quidel

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. The company offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus, a point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.

Read More: How to Use a Moving Average for TradingĀ 

Want to see what other hedge funds are holding QDEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quidel Co. (NASDAQ:QDEL).

Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

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.