Quidel Sees Unusually Large Options Volume (QDEL)

Quidel Co. (NASDAQ:QDEL) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 5,850 put options on the company. This is an increase of approximately 4,079% compared to the typical daily volume of 140 put options.

In related news, Director Jack W. Schuler sold 12,000 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $48.50, for a total transaction of $582,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Douglas C. Bryant sold 36,000 shares of the stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $51.63, for a total transaction of $1,858,680.00. Following the transaction, the chief executive officer now directly owns 306,313 shares in the company, valued at approximately $15,814,940.19. The disclosure for this sale can be found here. Insiders sold a total of 120,000 shares of company stock worth $5,751,720 in the last three months. Insiders own 22.00% of the company’s stock.

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A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Quidel by 2.1% in the 4th quarter. BlackRock Inc. now owns 1,790,347 shares of the company’s stock worth $77,611,000 after acquiring an additional 36,236 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Quidel by 12.7% in the 4th quarter. Macquarie Group Ltd. now owns 1,132,743 shares of the company’s stock worth $49,105,000 after acquiring an additional 128,081 shares during the last quarter. Fred Alger Management Inc. grew its holdings in Quidel by 7.3% in the 4th quarter. Fred Alger Management Inc. now owns 985,376 shares of the company’s stock worth $42,716,000 after acquiring an additional 66,926 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Quidel by 10.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 857,195 shares of the company’s stock worth $37,159,000 after acquiring an additional 83,894 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in Quidel by 206.6% in the 4th quarter. OppenheimerFunds Inc. now owns 630,052 shares of the company’s stock worth $27,313,000 after acquiring an additional 424,580 shares during the last quarter. 93.34% of the stock is currently owned by institutional investors and hedge funds.

QDEL has been the topic of several recent research reports. Zacks Investment Research lowered shares of Quidel from a “hold” rating to a “strong sell” rating in a report on Thursday, December 28th. Barclays increased their target price on shares of Quidel from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. CL King raised shares of Quidel from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Thursday, January 4th. Canaccord Genuity increased their target price on shares of Quidel from $55.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, April 5th. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $60.00 target price on shares of Quidel in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $57.29.

Shares of Quidel stock opened at $56.35 on Friday. The firm has a market capitalization of $2,106.41, a price-to-earnings ratio of -805.00, a PEG ratio of 0.95 and a beta of 0.89. Quidel has a 12-month low of $23.02 and a 12-month high of $57.30. The company has a debt-to-equity ratio of 1.66, a quick ratio of 2.06 and a current ratio of 2.58.

Quidel (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.70. The business had revenue of $114.90 million for the quarter, compared to analyst estimates of $115.06 million. Quidel had a negative net margin of 2.94% and a negative return on equity of 3.02%. The company’s revenue was up 117.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. research analysts expect that Quidel will post 2.38 earnings per share for the current fiscal year.

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Quidel Company Profile

Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. These diagnostic testing solutions are separated into four product categories: immunoassays, molecular assays, virology and specialty products. The Company 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, pharmacies and wellness screening centers.

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