Quidel Target of Unusually Large Options Trading (QDEL)

Quidel Co. (NASDAQ:QDEL) saw unusually large options trading on Friday. Traders purchased 1,657 call options on the stock. This represents an increase of 1,525% compared to the typical daily volume of 102 call options.

In other Quidel news, SVP Robert Joseph Bujarski sold 110,704 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.78, for a total value of $4,403,805.12. Following the transaction, the senior vice president now directly owns 79,797 shares of the company’s stock, valued at approximately $3,174,324.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas C. Bryant sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $42.29, for a total transaction of $507,480.00. Following the completion of the transaction, the chief executive officer now directly owns 296,493 shares in the company, valued at $12,538,688.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,790 shares of company stock worth $15,760,155. 22.00% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in QDEL. Vanguard Group Inc. raised its position in Quidel by 3.2% in the second quarter. Vanguard Group Inc. now owns 2,195,101 shares of the company’s stock valued at $59,575,000 after purchasing an additional 68,549 shares during the period. Macquarie Group Ltd. raised its position in Quidel by 8.1% in the second quarter. Macquarie Group Ltd. now owns 1,292,492 shares of the company’s stock valued at $35,078,000 after purchasing an additional 96,565 shares during the period. New York State Common Retirement Fund raised its position in Quidel by 0.7% in the third quarter. New York State Common Retirement Fund now owns 899,390 shares of the company’s stock valued at $39,447,000 after purchasing an additional 6,635 shares during the period. Fred Alger Management Inc. raised its position in Quidel by 0.4% in the second quarter. Fred Alger Management Inc. now owns 672,880 shares of the company’s stock valued at $18,262,000 after purchasing an additional 2,757 shares during the period. Finally, Renaissance Technologies LLC raised its position in Quidel by 27.6% in the second quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock valued at $16,623,000 after purchasing an additional 132,587 shares during the period. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Quidel (NASDAQ QDEL) opened at $46.93 on Monday. The company has a market cap of $1,595.48, a P/E ratio of -312.85, a PEG ratio of 1.51 and a beta of 1.15. The company has a current ratio of 6.28, a quick ratio of 5.68 and a debt-to-equity ratio of 0.70. Quidel has a 12-month low of $18.25 and a 12-month high of $47.60.

Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). The firm had revenue of $50.89 million for the quarter, compared to analysts’ expectations of $50.47 million. Quidel had a negative net margin of 2.33% and a negative return on equity of 2.36%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. analysts forecast that Quidel will post -0.23 earnings per share for the current year.

QDEL has been the topic of a number of research reports. Zacks Investment Research lowered shares of Quidel from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $50.00 price target on shares of Quidel in a research report on Thursday, December 14th. BidaskClub raised shares of Quidel from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Barclays lifted their price target on shares of Quidel from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Finally, CL King raised shares of Quidel from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.00.

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About Quidel

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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