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Quidel (QDEL) Gains But Lags Market: What You Should Know

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Quidel (QDEL) closed at $103.36 in the latest trading session, marking a +1.59% move from the prior day. This change lagged the S&P 500's 1.89% gain on the day. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 0.73%.

Coming into today, shares of the medical diagnostics company had lost 24.63% in the past month. In that same time, the Medical sector lost 10.76%, while the S&P 500 lost 7.36%.

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 $4.89 per share, which would represent a year-over-year decline of 55.83%. Meanwhile, our latest consensus estimate is calling for revenue of $430 million, down 46.86% from the prior-year quarter.

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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 14.74 right now. This valuation marks a discount compared to its industry's average Forward P/E of 21.15.

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 25% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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