Quidel (QDEL) closed the most recent trading day at $119.01, moving -0.42% from the previous trading session. This move lagged the S&P 500's daily gain of 0.93%.

Coming into today, shares of the medical diagnostics company had lost 12.55% in the past month. In that same time, the Medical sector lost 1.41%, while the S&P 500 gained 5.84%.

QDEL will be looking to display strength as it nears its next earnings release. In that report, analysts expect QDEL to post earnings of $5.26 per share. This would mark year-over-year growth of 331.15%. Our most recent consensus estimate is calling for quarterly revenue of $472.39 million, up 170.48% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $28.15 per share and revenue of $2.42 billion. These totals would mark changes of +41.32% and +45.79%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for QDEL. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. QDEL currently has a Zacks Rank of #3 (Hold).

In terms of valuation, QDEL is currently trading at a Forward P/E ratio of 4.35. Its industry sports an average Forward P/E of 29.65, so we one might conclude that QDEL is trading at a discount comparatively.

Meanwhile, QDEL's PEG ratio is currently 0.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. QDEL's industry had an average PEG ratio of 2.52 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 15% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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