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Quidel (QDEL) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Quidel (QDEL - Free Report) closed at $109.20, marking a -1.13% move from the previous day. This change lagged the S&P 500's daily gain of 0.51%. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq gained 0.1%.
Prior to today's trading, shares of the medical diagnostics company had gained 5.8% over the past month. This has lagged the Medical sector's gain of 6.27% and outpaced the S&P 500's gain of 5.51% in that time.
Quidel will be looking to display strength as it nears its next earnings release. In that report, analysts expect Quidel to post earnings of $9.28 per share. This would mark year-over-year growth of 111.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $823.07 million, up 119.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.75 per share and revenue of $2 billion. These totals would mark changes of -11.12% and +17.67%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Quidel. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 remained stagnant. Quidel is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Quidel currently has a Forward P/E ratio of 7.01. Its industry sports an average Forward P/E of 23.2, so we one might conclude that Quidel is trading at a discount comparatively.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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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Quidel (QDEL) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Quidel (QDEL - Free Report) closed at $109.20, marking a -1.13% move from the previous day. This change lagged the S&P 500's daily gain of 0.51%. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq gained 0.1%.
Prior to today's trading, shares of the medical diagnostics company had gained 5.8% over the past month. This has lagged the Medical sector's gain of 6.27% and outpaced the S&P 500's gain of 5.51% in that time.
Quidel will be looking to display strength as it nears its next earnings release. In that report, analysts expect Quidel to post earnings of $9.28 per share. This would mark year-over-year growth of 111.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $823.07 million, up 119.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.75 per share and revenue of $2 billion. These totals would mark changes of -11.12% and +17.67%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Quidel. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 remained stagnant. Quidel is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Quidel currently has a Forward P/E ratio of 7.01. Its industry sports an average Forward P/E of 23.2, so we one might conclude that Quidel is trading at a discount comparatively.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.