QDEL: A turn-around story and a play on the flu season, IMO. Quidel has 50% market share in point-of-care flu tests, about 30% of sales. It's been working its way through serious headaches: inconsistent earnings history, beaten up chart and shareholders, patent infringement lawsuit, high short interest, distributor problems, suspended financial guidance last summer, and finally, a canned CEO. All that as been priced into the stock and it is on its way to recovery, I believe.
QDEL is a company targeting women and now has a female CEO with an impressive resume with many companies, including GE, where you don't get to run a division if you're a slouch. QDEL had problems in Japan, the world's second largest flu market, but now claims a successful launch of a new test and will use the Japanese market roll-out as a template for penetrating additional countries.
Recognized as "Supplier of the Year" by the three largest U.S. medical supply distributors.
QDEL stacks up well against competition: 19% net profit margin, 17% ROE, 1.8 P/B, and high OBV index, indicating significant buying activity.
smartmoney.com
Yahoo shows just one analyst now following the company; expects .28 next year and .08 this year. 31.6 mil shares outstanding; $178mil market cap; current price $5.62; PE under 10.
News:
Quidel Launches flutest.com
Thursday October 21, 7:00 am ET
Interactive Web Site Delivers Practical Flu Solutions For Consumers
SAN DIEGO--(BUSINESS WIRE)--Oct. 21, 2004--Quidel Corporation (Nasdaq:QDEL - News), a leading provider of rapid point-of-care diagnostic tests, today announced the launch of flutest.com -- a Web site dedicated to the latest information about influenza, including vaccine-related issues, rapid diagnostic tests and treatment options.
The recent news coverage surrounding the influenza vaccine shortage has left many consumers struggling to find accurate and reliable information about influenza. "We felt it was important to highlight the very critical role rapid flu testing may have this flu season. We take very seriously our responsibility as the innovator and market leader in flu testing to provide timely educational outreach to the public about the critical issues surrounding the flu," said Caren L. Mason, president and CEO of Quidel. Flutest.com offers relevant flu information, including nationwide surveillance information from the Centers for Disease Control and Prevention (CDC) and detailed information about Quidel's QuickVue® Influenza test, which can diagnose influenza in 10 minutes or less. The site features many consumer engagement tools, including:
Find-a-Doctor -- Allows consumers to quickly locate a local physician offering the QuickVue® Influenza test
Flu Facts -- Information about the virus and treatments available
CDC Surveillance Map -- Highlights states that are experiencing outbreaks and demonstrates the severity of the virus' spread
New CEO bio:
Ms. Mason has more than 25 years experience in healthcare. She started her career with Baxter/American Hospital Supply, moving rapidly through the sales and marketing ranks before moving on to Bayer AG, where she assumed the position of Senior Vice President AGFA Technical Imaging Systems business group, after achieving notable success in National Accounts, Marketing and Business Development. Ms. Mason was then recruited to GE Medical Systems, where she was quickly promoted to lead several re-positioning general management assignments in the $1.2 billion services business before taking the helm of a newly formed Women's Healthcare business. She went on to become the CEO of eMed Technologies, Inc. and President and CEO of MiraMedica, two entrepreneurial, pioneering digital technology, diagnostic imaging companies. Most recently, after selling MiraMedica to Eastman Kodak, Ms. Mason provided transition support and consultative services to Kodak in Women's Health.
Ms. Mason is a graduate of Indiana University, where she was executive vice president of her graduating class and a merit scholarship winner. She has extensive executive education, including that from the University of Chicago, Round Table Group and GE Crotonville.
Improving technicals and volume: quotes.barchart.com
10-Q snips:
In the U.S., we lead the professional market in several POC product categories for sales through medical product distributors. This leadership position includes an estimated 50%, 49% and 43% professional market share in influenza, pregnancy and Group A Strep products, respectively, as of March 31, 2004. Our products provide healthcare professionals with accurate and cost-effective diagnostic information at the POC. We sell our products to professionals for use in physician offices, hospitals, clinical laboratories and wellness screening centers. We focus our products substantially on women's and family health in areas such as reproduction, infectious diseases, general health screening and diseases associated with the elderly.
On February 20, 2004, the Company filed a lawsuit against Inverness Medical Innovations Inc., Inverness Medical Switzerland GmbH, and Applied Biotech, Inc. as well as against Armkel LLC, for infringement of our U.S. Patent, which relates to lateral-flow technology, and for declaratory relief. The Company is seeking damages and injunctive relief against Inverness products that infringe its patented technology.
We have 242 issued patents and approximately 59 patent applications pending. Our patents have expiration dates ranging from 2004 to 2020.
Earnings call is scheduled for Wednesday. It will be interesting to see how the new CEO handles it and if she talks about any changes she has made. I bought some today. |
