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Quidel (QDEL) Dips More Than Broader Markets: What You Should Know
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Quidel (QDEL - Free Report) closed at $112.50 in the latest trading session, marking a -0.51% move from the prior day. This change lagged the S&P 500's daily loss of 0.34%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the medical diagnostics company had gained 10.87% over the past month. This has outpaced the Medical sector's gain of 8.23% and the S&P 500's gain of 5.03% in that time.
Wall Street will be looking for positivity from Quidel as it approaches its next earnings report date. On that day, Quidel is projected to report earnings of $9.28 per share, which would represent year-over-year growth of 111.87%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.75 per share and revenue of $2 billion, which would represent changes of -11.12% and +17.67%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Quidel. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Quidel is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Quidel is currently trading at a Forward P/E ratio of 7.18. This valuation marks a discount compared to its industry's average Forward P/E of 23.28.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% 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.
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
Quidel (QDEL - Free Report) closed at $112.50 in the latest trading session, marking a -0.51% move from the prior day. This change lagged the S&P 500's daily loss of 0.34%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the medical diagnostics company had gained 10.87% over the past month. This has outpaced the Medical sector's gain of 8.23% and the S&P 500's gain of 5.03% in that time.
Wall Street will be looking for positivity from Quidel as it approaches its next earnings report date. On that day, Quidel is projected to report earnings of $9.28 per share, which would represent year-over-year growth of 111.87%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.75 per share and revenue of $2 billion, which would represent changes of -11.12% and +17.67%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Quidel. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Quidel is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Quidel is currently trading at a Forward P/E ratio of 7.18. This valuation marks a discount compared to its industry's average Forward P/E of 23.28.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.