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

Zacks Equity Research
·3 min read

In the latest trading session, Quidel (QDEL) closed at $196.43, marking a +1.7% move from the previous day. This change outpaced the S&P 500's 0.58% gain on the day. Elsewhere, the Dow gained 0.49%, while the tech-heavy Nasdaq added 0.84%.

Heading into today, shares of the medical diagnostics company had gained 3.13% over the past month, outpacing the Medical sector's gain of 2.45% and the S&P 500's gain of 2.12% in that time.

Wall Street will be looking for positivity from QDEL as it approaches its next earnings report date. In that report, analysts expect QDEL to post earnings of $9.88 per share. This would mark year-over-year growth of 888%. Meanwhile, our latest consensus estimate is calling for revenue of $798.90 million, up 424.97% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $18.76 per share and revenue of $1.65 billion, which would represent changes of +531.65% and +208.72%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. QDEL is currently a Zacks Rank #1 (Strong Buy).

In terms of valuation, QDEL is currently trading at a Forward P/E ratio of 10.3. Its industry sports an average Forward P/E of 36.23, so we one might conclude that QDEL is trading at a discount comparatively.

Also, we should mention that QDEL has a PEG ratio of 0.41. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. QDEL's industry had an average PEG ratio of 3.53 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 116, which puts it in the top 46% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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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Zacks Investment Research