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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 $113.80, marking a +0.92% move from the previous day. This move outpaced the S&P 500's daily loss of 1.31%.

Coming into today, shares of the medical diagnostics company had lost 6.47% in the past month. In that same time, the Medical sector gained 3.6%, while the S&P 500 gained 1.56%.

Investors will be hoping for strength from QDEL as it approaches its next earnings release. In that report, analysts expect QDEL to post earnings of $3.35 per share. This would mark year-over-year growth of 80.11%. Meanwhile, our latest consensus estimate is calling for revenue of $320.08 million, up 58.65% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $16.28 per share and revenue of $1.48 billion, which would represent changes of -18.27% and -10.91%, respectively, from the prior year.

Any recent changes to analyst estimates for QDEL should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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.

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. Within the past 30 days, our consensus EPS projection has moved 21.75% lower. QDEL currently has a Zacks Rank of #5 (Strong Sell).

Investors should also note QDEL's current valuation metrics, including its Forward P/E ratio of 6.93. This valuation marks a discount compared to its industry's average Forward P/E of 27.85.

It is also worth noting that QDEL currently has a PEG ratio of 0.28. 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. QDEL's industry had an average PEG ratio of 2.23 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 22% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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