Quidel (QDEL) closed the most recent trading day at $128.33, moving -1.47% from the previous trading session. This move lagged the S&P 500's daily gain of 0.42%.
Prior to today's trading, shares of the medical diagnostics company had lost 16.47% over the past month. This has lagged the Medical sector's loss of 2.13% and the S&P 500's gain of 6.32% in that time.
Wall Street will be looking for positivity from QDEL as it approaches its next earnings report date. On that day, QDEL is projected to report earnings of $5.26 per share, which would represent year-over-year growth of 331.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $472.39 million, up 170.48% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $28.15 per share and revenue of $2.42 billion, which would represent changes of +41.32% and +45.79%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for QDEL. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Within the past 30 days, our consensus EPS projection has moved 20.27% lower. QDEL is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, QDEL currently has a Forward P/E ratio of 4.63. This represents a discount compared to its industry's average Forward P/E of 29.63.
We can also see that QDEL currently has a PEG ratio of 0.19. 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 was holding an average PEG ratio of 2.6 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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