Insider Selling: Quidel Corporation (QDEL) CFO Sells $1,458,594.47 in Stock

Quidel Corporation (NASDAQ:QDEL) CFO Randall J. Steward sold 36,383 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $40.09, for a total transaction of $1,458,594.47. Following the completion of the sale, the chief financial officer now directly owns 56,290 shares in the company, valued at $2,256,666.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of Quidel Corporation (NASDAQ:QDEL) opened at $40.00 on Friday. Quidel Corporation 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 quick ratio of 5.68 and a current ratio of 6.28.

Quidel (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $50.89 million for the quarter, compared to analyst estimates of $50.47 million. During the same period in the prior year, the business earned $0.10 earnings per share. Quidel’s revenue for the quarter was up 3.1% on a year-over-year basis. analysts forecast that Quidel Corporation will post 0.6 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in QDEL. Acrospire Investment Management LLC boosted its stake in shares of Quidel by 42.2% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,678 shares of the company’s stock worth $100,000 after purchasing an additional 1,091 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Quidel by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 7,209 shares of the company’s stock worth $197,000 after purchasing an additional 278 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Quidel by 162.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,642 shares of the company’s stock worth $204,000 after purchasing an additional 2,875 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Quidel during the 3rd quarter worth about $205,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Quidel during the 2nd quarter worth about $209,000. 92.67% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on the stock. Raymond James Financial reissued a “buy” rating and issued a $47.00 price objective (up from $41.00) on shares of Quidel in a research note on Tuesday, September 19th. Piper Jaffray Companies raised shares of Quidel from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $35.00 to $50.00 in a research note on Tuesday, September 19th. Zacks Investment Research raised shares of Quidel from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Canaccord Genuity reissued a “buy” rating and issued a $48.00 price objective (up from $42.00) on shares of Quidel in a research note on Tuesday, September 19th. Finally, Barclays reissued a “buy” rating and issued a $45.00 price objective (up from $39.00) on shares of Quidel in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $48.80.

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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.

Insider Buying and Selling by Quarter for Quidel (NASDAQ:QDEL)

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