Quidel (QDEL) Stock Moves -1.39%: What You Should Know
Quidel (QDEL) closed at $196.21 in the latest trading session, marking a -1.39% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.37%. Meanwhile, the Dow lost 1.92%, and the Nasdaq, a tech-heavy index, lost 3.02%.
Heading into today, shares of the medical diagnostics company had lost 14.56% over the past month, lagging the Medical sector's loss of 1.77% and the S&P 500's loss of 2.31% 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 $4.12 per share, which would represent year-over-year growth of 488.57%. Meanwhile, our latest consensus estimate is calling for revenue of $401.01 million, up 217.03% from the prior-year quarter.
QDEL's full-year Zacks Consensus Estimates are calling for earnings of $11.90 per share and revenue of $1.23 billion. These results would represent year-over-year changes of +300.67% and +129.83%, respectively.
Investors should also note any recent changes to analyst estimates for QDEL. Recent revisions tend to reflect the latest near-term business trends. 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 sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that QDEL has a Forward P/E ratio of 16.72 right now. This valuation marks a discount compared to its industry's average Forward P/E of 38.78.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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.