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Quidel (QDEL) Stock Moves -0.28%: What You Should Know

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Quidel (QDEL - Free Report) closed at $129.24 in the latest trading session, marking a -0.28% move from the prior day. This change was narrower than the S&P 500's 0.41% loss on the day.

Coming into today, shares of the medical diagnostics company had lost 6.7% in the past month. In that same time, the Medical sector lost 3.28%, while the S&P 500 gained 5.07%.

Wall Street will be looking for positivity from QDEL as it approaches its next earnings report date. In that report, analysts expect QDEL to post earnings of $5.26 per share. This would mark year-over-year growth of 331.15%. Meanwhile, our latest consensus estimate is calling for revenue of $472.39 million, up 170.48% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $28.15 per share and revenue of $2.42 billion. These totals would mark changes of +41.32% and +45.79%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for QDEL. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QDEL is currently a Zacks Rank #3 (Hold).

Digging into valuation, QDEL currently has a Forward P/E ratio of 4.6. This valuation marks a discount compared to its industry's average Forward P/E of 29.5.

Also, we should mention that QDEL has a PEG ratio of 0.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.62 at yesterday's closing price.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 24% 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.

To follow QDEL in the coming trading sessions, be sure to utilize Zacks.com.


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