Insider Selling: Quidel Co. (QDEL) Director Sells $598,500.00 in Stock

Quidel Co. (NASDAQ:QDEL) Director Kenneth F. Buechler sold 9,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $66.50, for a total transaction of $598,500.00. Following the completion of the sale, the director now owns 56,769 shares in the company, valued at approximately $3,775,138.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

QDEL stock opened at $68.14 on Friday. The firm has a market cap of $2.69 billion, a P/E ratio of 24.16, a PEG ratio of 0.96 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12. Quidel Co. has a one year low of $44.27 and a one year high of $77.63.

Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 13th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.21. The company had revenue of $132.59 million for the quarter, compared to analyst estimates of $132.26 million. Quidel had a net margin of 14.20% and a return on equity of 31.73%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business earned $0.56 earnings per share. Research analysts predict that Quidel Co. will post 2.77 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 Saturday, February 16th. Craig Hallum lowered shares of Quidel from a “buy” rating to a “hold” rating and cut their price objective for the stock from $80.00 to $51.00 in a research note on Monday, December 10th. BidaskClub upgraded shares of Quidel from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Finally, ValuEngine lowered shares of Quidel from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Quidel presently has an average rating of “Buy” and a consensus target price of $71.50.

Hedge funds have recently added to or reduced their stakes in the stock. Cutler Group LP acquired a new stake in Quidel during the fourth quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Quidel by 16.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,353 shares of the company’s stock valued at $115,000 after buying an additional 333 shares during the period. Quantamental Technologies LLC acquired a new stake in Quidel during the fourth quarter valued at $149,000. Meeder Asset Management Inc. lifted its holdings in Quidel by 383.5% during the third quarter. Meeder Asset Management Inc. now owns 2,659 shares of the company’s stock valued at $173,000 after purchasing an additional 2,109 shares in the last quarter. Finally, Alambic Investment Management L.P. purchased a new position in Quidel during the third quarter valued at $205,000. Institutional investors own 91.08% of the company’s stock.

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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.

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