Is Quidel (QDEL) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Quidel (QDEL) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of QDEL and the rest of the Medical group's stocks.
Quidel is one of 902 individual stocks in the Medical sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. QDEL is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for QDEL's full-year earnings has moved 77.13% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, QDEL has returned 152.31% so far this year. At the same time, Medical stocks have gained an average of 1.77%. This means that Quidel is performing better than its sector in terms of year-to-date returns.
Breaking things down more, QDEL is a member of the Medical - Products industry, which includes 81 individual companies and currently sits at #174 in the Zacks Industry Rank. On average, stocks in this group have lost 1.18% this year, meaning that QDEL is performing better in terms of year-to-date returns.
QDEL will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.