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

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Quidel (QDEL) closed at $95.02 in the latest trading session, marking a -1.43% move from the prior day. This change lagged the S&P 500's daily gain of 0.84%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 0.1%.

Heading into today, shares of the medical diagnostics company had lost 26.01% over the past month, lagging the Medical sector's loss of 2.97% and the S&P 500's loss of 4.03% in that time.

Investors will be hoping for strength from Quidel as it approaches its next earnings release, which is expected to be February 17, 2022. In that report, analysts expect Quidel to post earnings of $4.89 per share. This would mark a year-over-year decline of 55.83%. Our most recent consensus estimate is calling for quarterly revenue of $430 million, down 46.86% from the year-ago period.

It is also important to note the 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Quidel is holding a Zacks Rank of #1 (Strong Buy) right now.

Looking at its valuation, Quidel is holding a Forward P/E ratio of 13.97. This valuation marks a discount compared to its industry's average Forward P/E of 21.42.

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 41% 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.

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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