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

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Zacks Equity Research
·2 min read
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Quidel (QDEL) closed at $245.74 in the latest trading session, marking a +1.55% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.52%. Meanwhile, the Dow gained 0.54%, and the Nasdaq, a tech-heavy index, added 0.19%.

Coming into today, shares of the medical diagnostics company had gained 23.33% in the past month. In that same time, the Medical sector lost 0.91%, while the S&P 500 gained 4.79%.

Investors will be hoping for strength from QDEL as it approaches its next earnings release, which is expected to be October 29, 2020. The company is expected to report EPS of $4.58, up 554.29% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $476.12 million, up 276.41% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $14.75 per share and revenue of $1.45 billion, which would represent changes of +396.63% and +171.24%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for QDEL. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 16.19% higher. QDEL currently has a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that QDEL has a Forward P/E ratio of 16.4 right now. This represents a discount compared to its industry's average Forward P/E of 38.15.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 36% 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.

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


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