Investors Purchase Large Volume of Call Options on Quidel (QDEL)

Quidel Corporation (NASDAQ:QDEL) was the target of some unusual options trading on Tuesday. Stock traders bought 1,614 call options on the company. This is an increase of 3,004% compared to the average daily volume of 52 call options.

In other news, CEO Douglas C. Bryant sold 36,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $42.91, for a total transaction of $1,544,760.00. Following the completion of the sale, the chief executive officer now directly owns 296,493 shares of the company’s stock, valued at approximately $12,722,514.63. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Werner Kroll sold 7,565 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $39.50, for a total value of $298,817.50. Following the sale, the senior vice president now directly owns 10,261 shares of the company’s stock, valued at $405,309.50. The disclosure for this sale can be found here. Insiders sold a total of 237,206 shares of company stock valued at $9,554,868 over the last three months. 22.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of QDEL. Chicago Equity Partners LLC bought a new stake in shares of Quidel during the 2nd quarter valued at about $5,062,000. Davidson Kempner Capital Management LP bought a new stake in shares of Quidel during the 3rd quarter valued at about $6,974,000. Omni Partners LLP bought a new stake in shares of Quidel during the 3rd quarter valued at about $6,412,000. Marshall Wace North America L.P. boosted its position in shares of Quidel by 370.1% during the 2nd quarter. Marshall Wace North America L.P. now owns 171,800 shares of the company’s stock valued at $4,639,000 after acquiring an additional 135,253 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Quidel by 27.6% during the 2nd quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock valued at $16,623,000 after acquiring an additional 132,587 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Quidel (NASDAQ QDEL) opened at $40.15 on Friday. Quidel has a 12 month low of $18.25 and a 12 month high of $45.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 6.28 and a quick ratio of 5.68.

Quidel (NASDAQ:QDEL) last issued its earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.21). Quidel had a negative return on equity of 2.36% and a negative net margin of 2.33%. The company had revenue of $50.89 million during the quarter, compared to the consensus estimate of $50.47 million. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. equities research analysts anticipate that Quidel will post 0.6 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Quidel from a “hold” rating to a “strong sell” rating in a report on Tuesday. Piper Jaffray Companies reissued a “buy” rating and issued a $50.00 price objective on shares of Quidel in a report on Thursday. BidaskClub raised Quidel from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Canaccord Genuity reissued a “buy” rating and issued a $48.00 price objective (up previously from $42.00) on shares of Quidel in a report on Tuesday, September 19th. Finally, Barclays reissued a “buy” rating and issued a $45.00 price objective (up previously from $39.00) on shares of Quidel in a report on Tuesday, September 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.80.

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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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