Quidel (QDEL - Free Report) closed at $159.39 in the latest trading session, marking a -1.12% move from the prior day. This change lagged the S&P 500's daily gain of 1.27%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.87%.
Prior to today's trading, shares of the medical diagnostics company had lost 35.36% over the past month. This has lagged the Medical sector's loss of 0.54% and the S&P 500's gain of 0.37% in that time.
Wall Street will be looking for positivity from QDEL as it approaches its next earnings report date. The company is expected to report EPS of $4.13, up 490% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $363.11 million, up 187.06% from the year-ago period.
QDEL's full-year Zacks Consensus Estimates are calling for earnings of $12.04 per share and revenue of $1.14 billion. These results would represent year-over-year changes of +305.39% and +113.93%, respectively.
Investors might also notice recent changes to analyst estimates for QDEL. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20.4% higher. QDEL is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, QDEL is currently trading at a Forward P/E ratio of 13.39. For comparison, its industry has an average Forward P/E of 36.79, which means QDEL is trading at a discount to the group.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.