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Quidel (QDEL) Gains As Market Dips: What You Should Know

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In the latest trading session, Quidel (QDEL - Free Report) closed at $112.42, marking a +0.64% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.18%.

Heading into today, shares of the medical diagnostics company had lost 2.63% over the past month, lagging the Medical sector's gain of 1.05% and the S&P 500's gain of 0.04% in that time.

Investors will be hoping for strength from QDEL as it approaches its next earnings release. The company is expected to report EPS of $3.35, up 80.11% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $320.08 million, up 58.65% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.28 per share and revenue of $1.48 billion. These totals would mark changes of -18.27% and -10.91%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for QDEL. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 21.75% lower. QDEL is currently sporting a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, QDEL is holding a Forward P/E ratio of 6.86. Its industry sports an average Forward P/E of 28.11, so we one might conclude that QDEL is trading at a discount comparatively.

Investors should also note that QDEL has a PEG ratio of 0.27 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 2.24 as of yesterday's close.

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 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.

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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