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In the latest trading session, Quidel (QDEL) closed at $99.20, marking a -0.29% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.3%. At the same time, the Dow lost 0.69%, and the tech-heavy Nasdaq lost 0.37%.
Heading into today, shares of the medical diagnostics company had gained 4.35% over the past month, outpacing the Medical sector's loss of 2.43% and the S&P 500's loss of 5.33% in that time.
Quidel will be looking to display strength as it nears its next earnings release. In that report, analysts expect Quidel to post earnings of $9.28 per share. This would mark year-over-year growth of 111.87%. Our most recent consensus estimate is calling for quarterly revenue of $823.07 million, up 119.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.75 per share and revenue of $2 billion, which would represent changes of -11.12% and +17.67%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Quidel. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 135.54% higher. Quidel is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Quidel currently has a Forward P/E ratio of 6.32. This represents a discount compared to its industry's average Forward P/E of 22.13.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Quidel Corporation (QDEL) : Free Stock Analysis Report
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