Quidel (QDEL) closed at $114.96 in the latest trading session, marking a +1.87% move from the prior day. This move outpaced the S&P 500's daily gain of 0.58%.
Coming into today, shares of the medical diagnostics company had lost 5.99% in the past month. In that same time, the Medical sector gained 2.01%, while the S&P 500 gained 2.17%.
QDEL will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.35, up 80.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $320.08 million, up 58.65% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.28 per share and revenue of $1.48 billion. These totals would mark changes of -18.27% and -10.91%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for QDEL. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QDEL is currently a Zacks Rank #5 (Strong Sell).
Investors should also note QDEL's current valuation metrics, including its Forward P/E ratio of 6.93. This represents a discount compared to its industry's average Forward P/E of 28.62.
Meanwhile, QDEL's PEG ratio is currently 0.28. 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. The Medical - Products industry currently had an average PEG ratio of 2.27 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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