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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Quidel (QDEL) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Quidel is a member of our Medical group, which includes 931 different companies and currently sits at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. QDEL is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for QDEL's full-year earnings has moved 38.33% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, QDEL has returned 277.78% so far this year. In comparison, Medical companies have returned an average of 1.16%. As we can see, Quidel is performing better than its sector in the calendar year.
Looking more specifically, QDEL belongs to the Medical - Products industry, which includes 79 individual stocks and currently sits at #164 in the Zacks Industry Rank. On average, stocks in this group have gained 1.75% this year, meaning that QDEL is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on QDEL as it attempts to continue its solid performance.
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