Quidel Co. (NASDAQ:QDEL) Sees Large Growth in Short Interest

Quidel Co. (NASDAQ:QDELGet Rating) was the target of a large growth in short interest in May. As of May 15th, there was short interest totalling 5,150,000 shares, a growth of 24.1% from the April 30th total of 4,150,000 shares. Currently, 14.0% of the shares of the stock are short sold. Based on an average trading volume of 532,200 shares, the short-interest ratio is currently 9.7 days.

QDEL has been the topic of several analyst reports. StockNews.com upgraded shares of Quidel from a “hold” rating to a “buy” rating in a research report on Friday, May 13th. Raymond James upgraded shares of Quidel from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $155.00 to $130.00 in a research report on Tuesday, February 22nd. Finally, TheStreet lowered shares of Quidel from a “b-” rating to a “c+” rating in a research report on Thursday, February 10th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Quidel presently has a consensus rating of “Buy” and a consensus price target of $143.50.

Shares of NASDAQ:QDEL traded down $0.95 during mid-day trading on Wednesday, reaching $94.08. 32,670 shares of the company’s stock were exchanged, compared to its average volume of 699,108. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 3.93 and a beta of 0.02. The business’s fifty day moving average price is $105.43 and its 200-day moving average price is $115.21. Quidel has a twelve month low of $88.05 and a twelve month high of $180.06.

Quidel (NASDAQ:QDELGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $11.53 EPS for the quarter, topping analysts’ consensus estimates of $9.17 by $2.36. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $865.05 million. Quidel had a net margin of 43.26% and a return on equity of 56.46%. Quidel’s revenue was up 167.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.27 earnings per share. Sell-side analysts anticipate that Quidel will post 16.3 EPS for the current fiscal year.

In related news, Director Mary Lake Ph D. Polan sold 1,525 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $113.59, for a total transaction of $173,224.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Western Pacific Wealth Management LP bought a new position in Quidel during the fourth quarter worth $26,000. New Century Advisors LLC bought a new stake in Quidel in the fourth quarter valued at $31,000. Exane Derivatives increased its stake in Quidel by 4,883.3% in the first quarter. Exane Derivatives now owns 299 shares of the company’s stock valued at $34,000 after purchasing an additional 293 shares in the last quarter. Vestor Capital LLC bought a new stake in Quidel in the third quarter valued at $42,000. Finally, Emerald Advisers LLC bought a new stake in Quidel in the fourth quarter valued at $40,000. 92.89% of the stock is owned by institutional investors and hedge funds.

About Quidel (Get Rating)

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 worldwide. It offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus, a POC products to detect infectious and inflammatory diseases and conditions of the eye.

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