Douglas Bryant (Insider Trades), CEO and president of Quidel Corp. (QDEL, Financial), sold 69,168 shares of the company on Sept. 30. The average price per share was $21.76, for a total transaction of $1,505,096. Quidel, a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, has a market cap of $704.21 million.
There were no more than one insider buy of Quidel each year in 2014 and 2015. Bryant conducted both insider buys, which amounted to a total of 40,000 shares. Including Bryant’s most recent transaction to date, he has sold a total of 72,000 shares in two transactions and purchased 43,700 shares in three transactions since 2013. There is no clear trend in the volume and number of insider sells from 2013 to 2015. Insider sells increased from three transactions totaling 69,037 shares in 2013, to eight transactions totaling 128,908 shares in 2014. In the following year, there were two insider sells, which totaled 27,518 shares. For more information about insider transactions with Quidel, click here.
Quidel's total revenue in the three months ended June 30, was $39.133 million. Net revenue increased 11% in comparison to $35.204 million reported by the company in the previous year’s second quarter. Net loss also decreased from $8.931 million, or 26 cents per share, to $7.840 million, or 24 cents per share, when comparing the same periods of time. The company attributed the increase in total revenue to greater sales in various categories including Infectious Disease and Women’s Health products. Quidel reported an increase of 14% in Infectious Disease product total revenue during the second quarter of 2016, due to increased sales of Influenza and Strep A products. Women’s Health product revenues also increased 17% in the second quarter of 2016. Bryant commented that the second quarter is historically the “lowest revenue period for the year,” however, in 2016, “double-digit sales growth over the prior year quarter was once again achieved.”
The company also announced clearance from the United States Food and Drug Administration (FDA) for two of its Solana Assays. The Solana Trichomonas Assay is used for the diagnosis of trichomoniasis, a sexually transmitting disease atrributable to infection from the Trichomonas vaginalis parasite. The Solana ® Influenza A+B Assay also received clearance by the FDA for aid in the diagnosis of Influenza A and B infections.
According to GuruFocus information, Quidel Corp. has a business predictability rank of 1 out of 5 stars. For more information about business predictability rank, click here.
Jim Simons (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio) both increased their stake in Quidel during the second quarter of 2016. Simons acquired 104,200 shares of the company at an average per share price of $17.30. Since the second quarter of 2015, Simons increased his stake in the company by at least 30% each quarter. The total estimated gain of the holding since the second quarter of 2015 is 14%. Gabelli acquired 2,000 shares of Quidel during the second quarter of 2016, increasing his stake in the company by 0.32%. In the previous quarter, Gabelli increased his stake in the company by 4.02%. The total estimated gain of the holding since the first quarter of 2011 is 18%. For more information about guru trades with Quidel, click here.
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