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Is Quidel (QDEL) Outperforming Other Medical Stocks This Year?

Zacks Equity Research
·2-min read

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Quidel (QDEL) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.

Quidel is a member of the Medical sector. This group includes 904 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. QDEL is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for QDEL's full-year earnings has moved 127.70% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Our latest available data shows that QDEL has returned about 194.23% since the start of the calendar year. In comparison, Medical companies have returned an average of -0.23%. This shows that Quidel is outperforming its peers so far this year.

To break things down more, QDEL belongs to the Medical - Products industry, a group that includes 81 individual companies and currently sits at #98 in the Zacks Industry Rank. On average, this group has lost an average of 7.66% so far 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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Zacks Investment Research