We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Quidel (QDEL) Rallies 17.4% Since Posting Q4 Earnings Beat
Read MoreHide Full Article
Shares of Quidel Corporation (QDEL - Free Report) have rallied 17.4% compared with the industry's rise of 1.8% since its fourth-quarter 2021 earnings released on Feb 17.
The renowned rapid diagnostic testing solutions provider has a market capitalization of $4.34 billion. Its earnings for fourth-quarter 2021 surpassed the Zacks Consensus Estimate by 49.1%.
This Zacks Rank #1 (Strong Buy) stock has a favorable VGM Score of B. VGM Score helps identify stocks with the most attractive value, best growth and the most promising momentum.
The rally was largely driven by Quidel’s better-than-expected results in the fourth quarter of 2021. Further, the market is upbeat about the company’s strong Specialized Diagnostic Solutions revenues in the reported quarter.
Let’s take a quick look at the important catalysts to understand this positive trend.
Key Growth Catalysts
Impressive Q4 Results: The market is upbeat about Quidel’s better-than-expected results in the fourth quarter of 2021. The company recorded strong Specialized Diagnostic Solutions revenues along with robust demand for the QuickVue At-Home COVID-19 test. Robust revenues from the sale of COVID-19 products are also promising. Quidel also entered into a definitive agreement to acquire Ortho Clinical Diagnostics Holdings plc in December 2021, raising our optimism. Strong sales of Quidel’s products are impressive. The company’s strength in its Diagnostics portfolio and potential in IVD products also raise optimism. A strong balance sheet is an added plus.
Strong Diagnostics Portfolio: Quidel’s focus on advancing its diagnostics business to improve human health has enabled the company to target market segments that represent significant total market opportunities. The clinical diagnostics market was valued at approximately $63,305 million in 2020 and is anticipated to reach $93,851 million by 2026 at a CAGR of 6.1%, per a report by Mordor Intelligence.
To strengthen its position in the global diagnostics market, Quidel is currently offering rapid immunoassay tests for use in physician offices, hospital laboratories and emergency departments, retail clinics, eye health settings, pharmacies, other urgent care or alternative site settings. Cardiometabolic immunoassay tests for use in physician offices, hospital laboratories and emergency departments, and other urgent care or alternative site settings are also being offered by the company.
Image Source: Zacks Investment Research
Product Launch: The market is also upbeat about Quidel’s recent product launches. During the fourth-quarter 2021 earnings call in February, the company confirmed launching Savanna MDx instrumented system in select ex-U.S. markets. In Europe, Quidel launched its CE-Marked Savanna multiplex molecular analyzer system and Savanna RVP4 assay in late 2021. The company plans to launch the Savanna system in the United States in 2022.
During the same call, Quidel confirmed the recent launch of a self-test mobile application — QVue Business — to help address enterprise and employee-health use cases. A consumer version of the app is in the development stage.
Favorable Parameters
Estimates for 2022 and 2023 have moved up nearly 131% and 34.7%, respectively, in the past 90 days, reflecting investors’ optimism.
For first-quarter 2022, Quidel has an expected earnings growth rate of 111.9%, while revenues are expected to grow 119.3% on a year-over-year basis.
Quidel has a net margin growth rate of 45.5% compared with the industry’s (7.4%). The stock’s return on equity (ROE) stands at 45.8% versus the industry’s (10.6%).
Other Key Picks
Few other top-ranked stocks in the broader medical space are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and Bio-Rad Laboratories, Inc. (BIO - Free Report) .
McKesson, carrying a Zacks Rank #2 (Buy), reported third-quarter fiscal 2022 adjusted earnings per share (EPS) of $6.15, which beat the Zacks Consensus Estimate of $5.38 by 14.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
McKesson has a long-term earnings growth rate of 11.8%. MCK has gained 58.9% compared with the industry’s 13.7% growth in the past year.
AMN Healthcare, carrying a Zacks Rank #1, has a long-term earnings growth rate of 16.2%. AMN Healthcare surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 55.6% against the 53.6% industry decline.
Bio-Rad reported fourth-quarter 2021 adjusted EPS of $3.21, which surpassed the Zacks Consensus Estimate by 11.9%. Bio-Rad currently has a Zacks Rank #2.
Bio-Rad has an earnings yield of 2.3%, which compares favorably with the industry’s negative yield. BIO surpassed earnings estimates in the trailing four quarters, the average surprise being 66.9%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Quidel (QDEL) Rallies 17.4% Since Posting Q4 Earnings Beat
Shares of Quidel Corporation (QDEL - Free Report) have rallied 17.4% compared with the industry's rise of 1.8% since its fourth-quarter 2021 earnings released on Feb 17.
The renowned rapid diagnostic testing solutions provider has a market capitalization of $4.34 billion. Its earnings for fourth-quarter 2021 surpassed the Zacks Consensus Estimate by 49.1%.
This Zacks Rank #1 (Strong Buy) stock has a favorable VGM Score of B. VGM Score helps identify stocks with the most attractive value, best growth and the most promising momentum.
The rally was largely driven by Quidel’s better-than-expected results in the fourth quarter of 2021. Further, the market is upbeat about the company’s strong Specialized Diagnostic Solutions revenues in the reported quarter.
Let’s take a quick look at the important catalysts to understand this positive trend.
Key Growth Catalysts
Impressive Q4 Results: The market is upbeat about Quidel’s better-than-expected results in the fourth quarter of 2021. The company recorded strong Specialized Diagnostic Solutions revenues along with robust demand for the QuickVue At-Home COVID-19 test. Robust revenues from the sale of COVID-19 products are also promising. Quidel also entered into a definitive agreement to acquire Ortho Clinical Diagnostics Holdings plc in December 2021, raising our optimism. Strong sales of Quidel’s products are impressive. The company’s strength in its Diagnostics portfolio and potential in IVD products also raise optimism. A strong balance sheet is an added plus.
Strong Diagnostics Portfolio: Quidel’s focus on advancing its diagnostics business to improve human health has enabled the company to target market segments that represent significant total market opportunities. The clinical diagnostics market was valued at approximately $63,305 million in 2020 and is anticipated to reach $93,851 million by 2026 at a CAGR of 6.1%, per a report by Mordor Intelligence.
To strengthen its position in the global diagnostics market, Quidel is currently offering rapid immunoassay tests for use in physician offices, hospital laboratories and emergency departments, retail clinics, eye health settings, pharmacies, other urgent care or alternative site settings. Cardiometabolic immunoassay tests for use in physician offices, hospital laboratories and emergency departments, and other urgent care or alternative site settings are also being offered by the company.
Product Launch: The market is also upbeat about Quidel’s recent product launches. During the fourth-quarter 2021 earnings call in February, the company confirmed launching Savanna MDx instrumented system in select ex-U.S. markets. In Europe, Quidel launched its CE-Marked Savanna multiplex molecular analyzer system and Savanna RVP4 assay in late 2021. The company plans to launch the Savanna system in the United States in 2022.
During the same call, Quidel confirmed the recent launch of a self-test mobile application — QVue Business — to help address enterprise and employee-health use cases. A consumer version of the app is in the development stage.
Favorable Parameters
Estimates for 2022 and 2023 have moved up nearly 131% and 34.7%, respectively, in the past 90 days, reflecting investors’ optimism.
For first-quarter 2022, Quidel has an expected earnings growth rate of 111.9%, while revenues are expected to grow 119.3% on a year-over-year basis.
Quidel has a net margin growth rate of 45.5% compared with the industry’s (7.4%). The stock’s return on equity (ROE) stands at 45.8% versus the industry’s (10.6%).
Other Key Picks
Few other top-ranked stocks in the broader medical space are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and Bio-Rad Laboratories, Inc. (BIO - Free Report) .
McKesson, carrying a Zacks Rank #2 (Buy), reported third-quarter fiscal 2022 adjusted earnings per share (EPS) of $6.15, which beat the Zacks Consensus Estimate of $5.38 by 14.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
McKesson has a long-term earnings growth rate of 11.8%. MCK has gained 58.9% compared with the industry’s 13.7% growth in the past year.
AMN Healthcare, carrying a Zacks Rank #1, has a long-term earnings growth rate of 16.2%. AMN Healthcare surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 55.6% against the 53.6% industry decline.
Bio-Rad reported fourth-quarter 2021 adjusted EPS of $3.21, which surpassed the Zacks Consensus Estimate by 11.9%. Bio-Rad currently has a Zacks Rank #2.
Bio-Rad has an earnings yield of 2.3%, which compares favorably with the industry’s negative yield. BIO surpassed earnings estimates in the trailing four quarters, the average surprise being 66.9%.