Can Quidel (QDEL) Run Higher on Strong Earnings Estimate Revisions?
Quidel Corporation QDEL is a developer, manufacturer, and marketer of diagnostic testing solutions, that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on QDEL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Quidel could be a solid choice for investors.
Current Quarter Estimates for QDEL
In the past 30 days, two estimates have gone higher for Quidel while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 39 cents a share 30 days ago, to $1.08 today, a significant move.
Current Year Estimates for QDEL
Meanwhile, Quidel’s current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.06 per share 30 days ago to $6.86 per share today, a significant move.
Quidel Corporation Price and Consensus
Quidel Corporation price-consensus-chart | Quidel Corporation Quote
Bottom Line
The stock has also started to move higher lately, adding 79.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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