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Quidel (QDEL) Gains As Market Dips: What You Should Know
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Quidel (QDEL - Free Report) closed at $126.80 in the latest trading session, marking a +0.51% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.94%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the medical diagnostics company had lost 11.91% in the past month. In that same time, the Medical sector gained 2.88%, while the S&P 500 gained 5.72%.
Wall Street will be looking for positivity from Quidel as it approaches its next earnings report date. In that report, analysts expect Quidel to post earnings of $4.89 per share. This would mark a year-over-year decline of 55.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $501.5 million, down 38.03% from the year-ago period.
Any recent changes to analyst estimates for Quidel should also be noted by investors. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 9.18% higher. Quidel is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Quidel has a Forward P/E ratio of 18.28 right now. Its industry sports an average Forward P/E of 22.97, so we one might conclude that Quidel is trading at a discount comparatively.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 at $126.80 in the latest trading session, marking a +0.51% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.94%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the medical diagnostics company had lost 11.91% in the past month. In that same time, the Medical sector gained 2.88%, while the S&P 500 gained 5.72%.
Wall Street will be looking for positivity from Quidel as it approaches its next earnings report date. In that report, analysts expect Quidel to post earnings of $4.89 per share. This would mark a year-over-year decline of 55.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $501.5 million, down 38.03% from the year-ago period.
Any recent changes to analyst estimates for Quidel should also be noted by investors. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 9.18% higher. Quidel is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Quidel has a Forward P/E ratio of 18.28 right now. Its industry sports an average Forward P/E of 22.97, so we one might conclude that Quidel is trading at a discount comparatively.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.