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Quidel (QDEL) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Quidel (QDEL) closed at $113.95, marking a +1.29% move from the previous day. This move outpaced the S&P 500's daily gain of 1.12%. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.08%.

Prior to today's trading, shares of the medical diagnostics company had gained 8.51% over the past month. This has outpaced the Medical sector's gain of 7.36% and the S&P 500's gain of 4.63% in that time.

Quidel will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2022. On that day, Quidel is projected to report earnings of $9.28 per share, which would represent year-over-year growth of 111.87%.

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 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Quidel is currently a Zacks Rank #1 (Strong Buy).

Looking at its valuation, Quidel is holding a Forward P/E ratio of 7.14. This represents a discount compared to its industry's average Forward P/E of 23.1.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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