Now, despite such strong results, why did QDEL stock decline? Firstly, the company saw its gross margins shrink to 73% in Q3 2021, compared to 81% in the prior-year quarter, due to increased sales of the low-margin QuickVue Covid-19 test. Secondly, the revenue trajectory is unpredictable.
Full Answer
What's happening with Quidel stock?
What happened? Shares of medical diagnostics specialist Quidel Corporation ( NASDAQ:QDEL) are dropping sharply on Friday following the company's announcement of its financial results for the fourth quarter of its fiscal year 2020, which ended on Dec. 31. Investors weren't impressed with Quidel's quarterly update.
Is Quidel Corporation (QDEL) down 3 days in a row?
The Quidel Corporation stock price fell by -4.01% on the last day (Friday, 21st Jan 2022) from $109.40 to $105.01. and has now fallen 3 days in a row. During the day the stock fluctuated 4.26% from a day low at $104.84 to a day high of $109.31. The price has fallen in 8 of the last 10 days and is down by -17.24% for this period.
Who bought QDEL stock last quarter?
QDEL stock was acquired by a variety of institutional investors in the last quarter, including Barrow Hanley Mewhinney & Strauss LLC, Senvest Management LLC, Wellington Management Group LLP, ArrowMark Colorado Holdings LLC, Russell Investments Group Ltd., Dimensional Fund Advisors LP, Man Group plc, and Oracle Investment Management Inc..
What is the downside for Quidel's price?
According to analysts' consensus price target of $148.50, Quidel has a forecasted downside of 1.1% from its current price of $150.11. Quidel has only been the subject of 1 research reports in the past 90 days.
How much did Quidel make in Q4?
During Q4, the company's revenue soared by 432% year over year to $809.2 million. Quidel's top line barely came in ahead of the average analyst estimate, which was $809.1 million.
When is Qdel's fourth quarter?
Shares of medical diagnostics specialist Quidel Corporation ( NASDAQ:QDEL) are dropping sharply on Friday following the company's announcement of its financial results for the fourth quarter of its fiscal year 2020 , which ended on Dec. 31. Investors weren't impressed with Quidel's quarterly update.
How much will Quidel make in 2020?
The company’s revenues surged 218% to $1.7 billion in 2020, compared to $0.5 billion in 2018. Much of the growth came in 2020, driven by Covid-19 tests. Quidel’s net margins also expanded 243% to 49% in 2020, compared to 14% in 2018, given the company’s operating expenses grew at a much slower pace, compared to its revenues.
Is Quidel QuickVue a negative test?
There may be negative test report requirement for in-person activities, possibly schools, and for air travel. Quidel’s QuickVue, an at-home Covid-19 test, has already secured the emergency use authorization from the U.S. FDA, and it can address this demand.
Does Quidel have debt?
Furthermore, Quidel is sitting on a cash balance of close to $1.0 billion, and it does not have any debt. It won’t be surprising if the company were to explore other companies to boost its long-term revenue growth. Lastly, the average analyst price estimate for QDEL stock is around $173, reflecting a large 60% premium to the current market price ...
Is Quidel still pending?
FDA, while its Lyra test is still pending for the regulatory approval.
Is Quidel stock undervalued?
W e believe that the stock price of Quidel ( NASDAQ:QDEL), a clinical genetic testing company, looks undervalued at current levels near $108. QDEL stock is actually up just 22% from levels of around $88 it was at on March 23, 2020, when broader markets made a bottom.
What happened
Shares of Quidel Corporation (NASDAQ: QDEL) suddenly plunged this afternoon, following comments made by CEO Doug Bryant at the Barclays Global Healthcare Conference today.
So what
Bryant and the rest of the Quidel management team expect $450 million in revenue for the first quarter of 2021 as a worst case scenario. This projection assumes there's no new spikes in coronavirus cases going forward. The outlook also assumes that the current vaccines will remain effective against the newer mutations of the virus.
Now what
There could also be something else coming into play with today's sell-off. Wall Street largely argues that the companies that did well during the pandemic will revert to normal once it's over. Therefore, any sniff of slowing growth now is enough to cause shareholders to flood the exits with these kinds of stocks.
Why Quidel Was Trouncing the Market on Tuesday
On Tuesday, Quidel (NASDAQ: QDEL) was a bright spot in a generally downbeat and gloomy stock market. Shares of the healthcare-diagnostics specialist were up by more than 6% in late afternoon trading, following an extremely bullish new research note from an analyst. The raging bull is Raymond James prognosticator Andrew Cooper.
Quidel (QDEL) Q4 Earnings Top Estimates, Margins Decline
Despite robust revenues from COVID-19 products, Quidel (QDEL) records an overall soft Q4 performance.
Why Quidel Stock Is Popping Today
Quidel (NASDAQ: QDEL) stock was popping on Friday with shares jumping 11.3% as of 11:02 a.m. ET. The diagnostics testing company reported fourth-quarter revenue of $636.9 million. Although this reflected a sharp 21.2% year-over-year decline, it still narrowly topped the consensus estimate.
Quidel (QDEL) Tops Q4 Earnings and Revenue Estimates
Quidel (QDEL) delivered earnings and revenue surprises of 49.08% and 0.29%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?
Quidel (QDEL) to Report Q4 Earnings: What's in the Offing?
Quidel's (QDEL) fourth-quarter results are likely to reflect continued strength across its SARS-related products.
Analysts Estimate Quidel (QDEL) to Report a Decline in Earnings: What to Look Out for
Quidel (QDEL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Neptune Wellness (NEPT) Reports Q3 Loss, Tops Revenue Estimates
Neptune Wellness (NEPT) delivered earnings and revenue surprises of -50% and 7.29%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?
What is the stock price of Quidel Corporation in 2021?
Green day on Friday for Quidel Corporation (Updated on July 23, 2021) The Quidel Corporation stock price gained 0.46% on the last trading day (Friday, 23rd Jul 2021), rising from $149.52 to $150.21. , and has now gained 8 days in a row.
Does Quidel stock have a buy signal?
Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average.
About Quidel
Quidel Corp. engages in the development, manufacture and market of rapid diagnostic testing solutions. Its portfolio includes rapid immunoassays, cardiac immunoassays, specialized diagnostic solutions and molecular diagnostic solutions.
Headlines
Quidel shares are trading higher after the company reported better-than-expected Q4 adjusted EPS and sales results. - Benzinga