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What's in the Cards for Quidel (QDEL) This Earnings Season?
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Quidel Corporation (QDEL - Free Report) is scheduled to report first-quarter 2020 results on May 6, after market close.
Its earnings beat estimates in three of the trailing four quarters and missed in one, the average beat being 1.2%.
Let’s take a look at how things are shaping up prior to this announcement.
Factors at Play
Lately, Quidel’s Molecular Diagnostic Solutions has been delivering robust results, a trend which is likely to have continued in the first quarter. Continued strong demand for the Solana platform, banking on the Strep A and Influenza product lines, is expected to have driven growth during the to-be reported quarter.
The company is likely to have witnessed an uptick in molecular product and cardiomatabolic revenues in the first quarter.The global integration of the Triage businesses in November 2019 is likely to have driven first-quarter performance as well.
Lately, the company has been making progress within its R&D, ClinReg and instrument systems development teams. This is expected to show on first-quarter results.The solid momentum of Savanna cross-functional product development team is also likely to get reflected on the results.
Lately, Sniffles, the company’s next-generation Sofia platform, has been gaining traction which is also likely to have contributed to the top line.
The company is expected to have continued gaining from the newer products like Sofia Lyme, Triage, toxicology, High Sense, Troponin and Europe, Triage PLGF and the new Sofia GI products in the quarter as well. These products should account for about $10 million in incremental revenue in 2020.
Q1 Estimates
The Zacks Consensus Estimate for total revenues of $157.1 million implies growth of 6.2% from the prior-year quarter figure. Also, the consensus mark for EPS is pegged at a cent, suggesting a 9.9% rise from the prior-year quarter figure.
What Our Quantitative Model Suggests
Per our proven model, a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases chances of an earnings beat. That is not the case here as you will see.
Earnings ESP: Quidel has an Earnings ESP of -0.50%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: It carries a Zacks Rank #1.
Stocks Worth a Look
Here are a few medical stocks worth considering as they have the right combination of elements to post an earnings beat this time around.
Aphria Inc. has an Earnings ESP of +35.71% and a Zacks Rank #2.
Exact Sciences Corporation (EXAS - Free Report) has an Earnings ESP of +2.28% and a Zacks Rank of 2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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What's in the Cards for Quidel (QDEL) This Earnings Season?
Quidel Corporation (QDEL - Free Report) is scheduled to report first-quarter 2020 results on May 6, after market close.
Its earnings beat estimates in three of the trailing four quarters and missed in one, the average beat being 1.2%.
Let’s take a look at how things are shaping up prior to this announcement.
Factors at Play
Lately, Quidel’s Molecular Diagnostic Solutions has been delivering robust results, a trend which is likely to have continued in the first quarter. Continued strong demand for the Solana platform, banking on the Strep A and Influenza product lines, is expected to have driven growth during the to-be reported quarter.
The company is likely to have witnessed an uptick in molecular product and cardiomatabolic revenues in the first quarter.The global integration of the Triage businesses in November 2019 is likely to have driven first-quarter performance as well.
Quidel Corporation Price and EPS Surprise
Quidel Corporation price-eps-surprise | Quidel Corporation Quote
Lately, the company has been making progress within its R&D, ClinReg and instrument systems development teams. This is expected to show on first-quarter results.The solid momentum of Savanna cross-functional product development team is also likely to get reflected on the results.
Lately, Sniffles, the company’s next-generation Sofia platform, has been gaining traction which is also likely to have contributed to the top line.
The company is expected to have continued gaining from the newer products like Sofia Lyme, Triage, toxicology, High Sense, Troponin and Europe, Triage PLGF and the new Sofia GI products in the quarter as well. These products should account for about $10 million in incremental revenue in 2020.
Q1 Estimates
The Zacks Consensus Estimate for total revenues of $157.1 million implies growth of 6.2% from the prior-year quarter figure. Also, the consensus mark for EPS is pegged at a cent, suggesting a 9.9% rise from the prior-year quarter figure.
What Our Quantitative Model Suggests
Per our proven model, a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases chances of an earnings beat. That is not the case here as you will see.
Earnings ESP: Quidel has an Earnings ESP of -0.50%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: It carries a Zacks Rank #1.
Stocks Worth a Look
Here are a few medical stocks worth considering as they have the right combination of elements to post an earnings beat this time around.
Aurora Cannabis (ACB - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Aphria Inc. has an Earnings ESP of +35.71% and a Zacks Rank #2.
Exact Sciences Corporation (EXAS - Free Report) has an Earnings ESP of +2.28% and a Zacks Rank of 2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>