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Quidel (QDEL) Gains As Market Dips: What You Should Know
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Quidel (QDEL - Free Report) closed the most recent trading day at $236.38, moving +1.5% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.11%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.14%.
Heading into today, shares of the medical diagnostics company had gained 19.36% over the past month, outpacing the Medical sector's gain of 2.42% and the S&P 500's gain of 2.46% in that time.
QDEL will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2021. On that day, QDEL is projected to report earnings of $10.10 per share, which would represent year-over-year growth of 910%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $807.91 million, up 430.89% from the year-ago period.
Investors should also note any recent changes to analyst estimates for QDEL. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.84% lower. QDEL is currently a Zacks Rank #3 (Hold).
In terms of valuation, QDEL is currently trading at a Forward P/E ratio of 6.05. Its industry sports an average Forward P/E of 29.96, so we one might conclude that QDEL is trading at a discount comparatively.
Also, we should mention that QDEL has a PEG ratio of 0.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Products was holding an average PEG ratio of 2.91 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Quidel (QDEL) Gains As Market Dips: What You Should Know
Quidel (QDEL - Free Report) closed the most recent trading day at $236.38, moving +1.5% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.11%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.14%.
Heading into today, shares of the medical diagnostics company had gained 19.36% over the past month, outpacing the Medical sector's gain of 2.42% and the S&P 500's gain of 2.46% in that time.
QDEL will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2021. On that day, QDEL is projected to report earnings of $10.10 per share, which would represent year-over-year growth of 910%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $807.91 million, up 430.89% from the year-ago period.
Investors should also note any recent changes to analyst estimates for QDEL. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.84% lower. QDEL is currently a Zacks Rank #3 (Hold).
In terms of valuation, QDEL is currently trading at a Forward P/E ratio of 6.05. Its industry sports an average Forward P/E of 29.96, so we one might conclude that QDEL is trading at a discount comparatively.
Also, we should mention that QDEL has a PEG ratio of 0.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Products was holding an average PEG ratio of 2.91 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.