Should Value Investors Buy QuidelOrtho (QDEL) Stock?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One company to watch right now is QuidelOrtho (QDEL). QDEL is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 10.54, while its industry has an average P/E of 21.08. Over the past 52 weeks, QDEL's Forward P/E has been as high as 25.36 and as low as 9.36, with a median of 14.18.
Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. QDEL has a P/S ratio of 0.69. This compares to its industry's average P/S of 1.34.
Finally, investors will want to recognize that QDEL has a P/CF ratio of 11.91. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. QDEL's current P/CF looks attractive when compared to its industry's average P/CF of 12. QDEL's P/CF has been as high as 15.25 and as low as 5.04, with a median of 8.88, all within the past year.
Value investors will likely look at more than just these metrics, but the above data helps show that QuidelOrtho is likely undervalued currently. And when considering the strength of its earnings outlook, QDEL sticks out as one of the market's strongest value stocks.
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This article originally published on Zacks Investment Research (zacks.com).
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