Quidel Corporation [NASDAQ:QDEL] has active tape with a current price of $277.82 against an analyst price target of 266.75.
For the year, the stock is trading 270.28% and the five-day change stands at 26.64%. As a point of reference, the S&P 500 is trading 1.71% YTD.
Other data to note about the company today is the Recommendation Trend that is leaning toward Quidel Corporation [QDEL] as Moderate Buy.
The Price is right
Holding a Market Cap of $11.17 billion, Quidel Corporation has seen a trading range over the last year of $55.25-$306.72.
For the last five days, QDEL is up from its last closing price. The average shares trading hands each day is 1.23M.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for QDEL. When we apply the Elder Force Index to Quidel Corporation, we are seeing an Elder Force Indicator number of 35704549.66.
Recent Performance
The recent performance of the stock is another area that can tell traders how to proceed. QDEL is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 12.94.
In the last quarter, QDEL made a profit of 148.75 million. Quidel Corporation also saw quarter revenue growth year over year of 2.41%.
Technical Analysis
Looking at popular technical indicators, the company’s 5-day moving average is 248.08 compared to the 50-day moving average of 6.31%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. QDEL currently holds a 9-day RSI of 88.10%, while 100-day RSI stands at 58.70%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. QDEL’s 9-day MACD is 29.81 and the company’s 100-day MACD stands at 47.51.
Inside Moves
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 11.89% by insiders and 91.59% by institutions.
Over the last six months, insiders have bought 400 with the most recent transaction from Strobeck Matthew, Director, with a purchase at price 155.63 per share.
Conclusion
Overall, the recommended rating for QDEL is Moderate Buy. Currently, the company has 6 analysts watching the stock, and the average quarterly earnings estimate is 4.58. Quarterly revenue estimates are averaging 438.35M with the high estimate reaching 476.7M and the low at 390.4M.
To review, the current 1-year target estimate is sitting at 266.75, while the current price 277.82. Based on this, we expect some pullback on the stock over time given our above analysis.
