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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 $121.25, moving +0.82% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.86%.

Coming into today, shares of the medical diagnostics company had gained 6.97% in the past month. In that same time, the Medical sector gained 1.36%, while the S&P 500 gained 3.22%.

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 $2.30 per share. This would mark year-over-year growth of 23.66%. Our most recent consensus estimate is calling for quarterly revenue of $251.82 million, up 24.82% from the year-ago period.

QDEL's full-year Zacks Consensus Estimates are calling for earnings of $12.27 per share and revenue of $1.22 billion. These results would represent year-over-year changes of -38.4% and -26.55%, respectively.

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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 29.7% lower. QDEL is currently sporting a Zacks Rank of #5 (Strong Sell).

Investors should also note QDEL's current valuation metrics, including its Forward P/E ratio of 9.8. Its industry sports an average Forward P/E of 29.47, so we one might conclude that QDEL is trading at a discount comparatively.

Also, we should mention that QDEL has a PEG ratio of 0.39. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.34 based on yesterday's closing prices.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 32% 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.


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