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What's in Store for Quidel (QDEL) This Earnings Season?
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Quidel Corporation (QDEL - Free Report) is scheduled to release third-quarter 2018 results on Nov 6, 2018, after the market closes.
Favorable tidings on regulatory front and strong prospect in the Sofia 2 platform are likely to drive results in the quarter to be reported.
Q2 Results at a Glance
In the last reported quarter, Quidel registered revenues of $103.2 million, surpassing the Zacks Consensus Estimate by 1%. This compares favorably with the year-ago revenues of $38.3 million.
Adjusted earnings were 36 cents per share against loss of $12 cents in the second quarter of 2017. The company reported an earnings surprise of 63.6% in second-quarter 2018.
Which Way are Estimates Treading?
For the quarter to be reported, the Zacks Consensus Estimate for earnings is pegged at 50 cents per share, up 412.5% year over year. The same for revenues is pegged at $120.7 million, up 137.1% year over year.
Strong growth in Cardiac Immunoassay revenues — which include revenues from Triage, Triage Toxicology and Beckman BNP products — is likely to drive the top line in the third quarter.
The Cardiac Immunoassay segment is expected to witness solid growth in China. For investors’ notice, the segment contributed 67.7% to the top line in the second quarter.
The newly-launched Sofia 2 platform is also expected to be a key driver in the third quarter. In August, Quidel received 510(k) clearance and Clinical Laboratory Improvement Amendments (CLIA) waiver from the FDA to market its Sofia 2 Lyme FIA to be used with the Sofia 2 Fluorescent Immunoassay Analyzer.
Sofia 2 is Quidel’s advanced version of Sofia Instrumented System. As of the last reported quarter, Quidel had more than 10,000 Sofia 2 instruments shipped.
Solid performance in Solana and Eye Health products is also likely to drive third-quarter earnings.
What Our Model Says
Per our proven quantitative model, a stock needs to have a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to deliver a positive earnings surprise. This is precisely the case here as you will see below.
Earnings ESP: Quidel has an Earnings ESP of +10.55%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Quidel currently carries a Zacks Rank #3.
Please note that we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement, especially when the company is witnessing negative estimate revision.
Other Stocks Worth a Look
Here are a few other medical stocks worth considering as these too have the right combination of elements to post an earnings beat in their upcoming quarterly results.
BioLife Solutions, Inc. (BLFS - Free Report) has an Earnings ESP of +36.36% and a Zacks Rank #3.
OraSure Technologies, Inc. (OSUR - Free Report) has an Earnings ESP of +4.76% and a Zacks Rank #2.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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What's in Store for Quidel (QDEL) This Earnings Season?
Quidel Corporation (QDEL - Free Report) is scheduled to release third-quarter 2018 results on Nov 6, 2018, after the market closes.
Favorable tidings on regulatory front and strong prospect in the Sofia 2 platform are likely to drive results in the quarter to be reported.
Q2 Results at a Glance
In the last reported quarter, Quidel registered revenues of $103.2 million, surpassing the Zacks Consensus Estimate by 1%. This compares favorably with the year-ago revenues of $38.3 million.
Adjusted earnings were 36 cents per share against loss of $12 cents in the second quarter of 2017. The company reported an earnings surprise of 63.6% in second-quarter 2018.
Which Way are Estimates Treading?
For the quarter to be reported, the Zacks Consensus Estimate for earnings is pegged at 50 cents per share, up 412.5% year over year. The same for revenues is pegged at $120.7 million, up 137.1% year over year.
Let’s delve deeper.
Quidel Corporation Price and Consensus
Quidel Corporation Price and Consensus | Quidel Corporation Quote
Factors to Consider
Strong growth in Cardiac Immunoassay revenues — which include revenues from Triage, Triage Toxicology and Beckman BNP products — is likely to drive the top line in the third quarter.
The Cardiac Immunoassay segment is expected to witness solid growth in China. For investors’ notice, the segment contributed 67.7% to the top line in the second quarter.
The newly-launched Sofia 2 platform is also expected to be a key driver in the third quarter. In August, Quidel received 510(k) clearance and Clinical Laboratory Improvement Amendments (CLIA) waiver from the FDA to market its Sofia 2 Lyme FIA to be used with the Sofia 2 Fluorescent Immunoassay Analyzer.
Sofia 2 is Quidel’s advanced version of Sofia Instrumented System. As of the last reported quarter, Quidel had more than 10,000 Sofia 2 instruments shipped.
Solid performance in Solana and Eye Health products is also likely to drive third-quarter earnings.
What Our Model Says
Per our proven quantitative model, a stock needs to have a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to deliver a positive earnings surprise. This is precisely the case here as you will see below.
Earnings ESP: Quidel has an Earnings ESP of +10.55%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Quidel currently carries a Zacks Rank #3.
Please note that we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement, especially when the company is witnessing negative estimate revision.
Other Stocks Worth a Look
Here are a few other medical stocks worth considering as these too have the right combination of elements to post an earnings beat in their upcoming quarterly results.
BioLife Solutions, Inc. (BLFS - Free Report) has an Earnings ESP of +36.36% and a Zacks Rank #3.
ICU Medical, Inc. (ICUI - Free Report) has an Earnings ESP of +8.65% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
OraSure Technologies, Inc. (OSUR - Free Report) has an Earnings ESP of +4.76% and a Zacks Rank #2.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>