Investors Buy Large Volume of Put Options on Quidel (QDEL)

Quidel Co. (NASDAQ:QDEL) saw unusually large options trading on Thursday. Stock traders bought 3,818 put options on the company. This represents an increase of 5,059% compared to the typical daily volume of 74 put options.

Several analysts have recently issued reports on the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $50.00 price objective on shares of Quidel in a research note on Friday, November 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $48.00 price objective on shares of Quidel in a research note on Wednesday, October 25th. BidaskClub upgraded Quidel from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research cut Quidel from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 28th. Finally, CL King upgraded Quidel from a “neutral” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Quidel presently has a consensus rating of “Buy” and an average target price of $50.00.

Shares of Quidel (NASDAQ QDEL) opened at $46.93 on Friday. Quidel has a 52 week low of $18.25 and a 52 week high of $47.60. The company has a quick ratio of 5.68, a current ratio of 6.28 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1,579.83, a price-to-earnings ratio of -312.85, a PEG ratio of 1.50 and a beta of 1.15.

Quidel (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.21). Quidel had a negative net margin of 10.86% and a negative return on equity of 10.27%. The business had revenue of $50.89 million during the quarter, compared to analyst estimates of $50.47 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. analysts anticipate that Quidel will post -0.23 EPS for the current year.

In other news, Director Jack W. Schuler sold 4,000 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $47.02, for a total value of $188,080.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas C. Bryant sold 12,000 shares of the stock in a transaction on Friday, December 28th. The shares were sold at an average price of $44.12, for a total value of $529,440.00. Following the completion of the sale, the chief executive officer now owns 286,493 shares in the company, valued at $12,640,071.16. The disclosure for this sale can be found here. Insiders have sold 385,790 shares of company stock worth $15,760,155 over the last 90 days. 22.00% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc raised its stake in Quidel by 4.0% in the second quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock valued at $197,000 after buying an additional 278 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Quidel by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 21,831 shares of the company’s stock valued at $593,000 after buying an additional 333 shares in the last quarter. AHL Partners LLP raised its stake in Quidel by 4.0% in the second quarter. AHL Partners LLP now owns 18,666 shares of the company’s stock valued at $507,000 after buying an additional 718 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Quidel by 1.1% in the second quarter. TIAA CREF Investment Management LLC now owns 99,227 shares of the company’s stock valued at $2,693,000 after buying an additional 1,062 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its stake in Quidel by 42.2% in the second quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock valued at $100,000 after buying an additional 1,091 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

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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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