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Quidel (QDEL) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Quidel (QDEL - Free Report) closed at $114.15, marking a -1.17% move from the previous day. This move lagged the S&P 500's daily loss of 0.97%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Coming into today, shares of the medical diagnostics company had gained 17.68% in the past month. In that same time, the Medical sector gained 4.66%, while the S&P 500 gained 4.71%.
Investors will be hoping for strength from Quidel as it approaches its next earnings release. The company is expected to report EPS of $9.28, up 111.87% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $823.07 million, up 119.29% from the year-ago period.
QDEL's full-year Zacks Consensus Estimates are calling for earnings of $15.75 per share and revenue of $2 billion. These results would represent year-over-year changes of -11.12% and +17.67%, respectively.
Investors might also notice recent changes to analyst estimates for Quidel. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 remained stagnant. Quidel is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Quidel is holding a Forward P/E ratio of 7.33. This represents a discount compared to its industry's average Forward P/E of 22.98.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Quidel (QDEL - Free Report) closed at $114.15, marking a -1.17% move from the previous day. This move lagged the S&P 500's daily loss of 0.97%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Coming into today, shares of the medical diagnostics company had gained 17.68% in the past month. In that same time, the Medical sector gained 4.66%, while the S&P 500 gained 4.71%.
Investors will be hoping for strength from Quidel as it approaches its next earnings release. The company is expected to report EPS of $9.28, up 111.87% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $823.07 million, up 119.29% from the year-ago period.
QDEL's full-year Zacks Consensus Estimates are calling for earnings of $15.75 per share and revenue of $2 billion. These results would represent year-over-year changes of -11.12% and +17.67%, respectively.
Investors might also notice recent changes to analyst estimates for Quidel. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 remained stagnant. Quidel is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Quidel is holding a Forward P/E ratio of 7.33. This represents a discount compared to its industry's average Forward P/E of 22.98.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% 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.