For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Quidel (QDEL – Free Report) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Quidel is a member of the Medical sector. This group includes 980 individual stocks and currently holds a Zacks Sector Rank of #13. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. 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 111.37% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that QDEL has returned about 5.92% since the start of the calendar year. Meanwhile, stocks in the Medical group have lost about 0.41% on average. This means that Quidel is outperforming the sector as a whole this year.
Breaking things down more, QDEL is a member of the Medical – Products industry, which includes 79 individual companies and currently sits at #179 in the Zacks Industry Rank. This group has lost an average of 0.62% so far this year, so QDEL is performing better in this area.
Investors with an interest in Medical stocks should continue to track QDEL. The stock will be looking to continue its solid performance.