Is Quidel (QDEL) Stock Outpacing Its Medical Peers This Year?
Investors focused on the Medical space have likely heard of Quidel (QDEL), but is the stock performing well in comparison to the rest of its sector peers? 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 931 companies in the Medical group. The Medical group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. QDEL is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for QDEL's full-year earnings has moved 87.45% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, QDEL has returned 227.52% so far this year. Meanwhile, the Medical sector has returned an average of -0.03% on a year-to-date basis. As we can see, Quidel is performing better than its sector in the calendar year.
Looking more specifically, QDEL belongs to the Medical - Products industry, a group that includes 80 individual stocks and currently sits at #166 in the Zacks Industry Rank. Stocks in this group have gained about 1.87% so far this year, so QDEL is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to QDEL as it looks to continue its solid performance.
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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.