The Market Doesn’t Believe Quidel’s Good Fortune
Quidel Corporation (NASDAQ:QDEL) is a diagnostic testing company. Although it covers other important areas such as flu, respiratory, viral and herpes testing, it was “put on the map” by COVID-19 tests after 2019. Earnings jumped more than tenfold in 2020 to $18.60 a share, up from $1.73 a share in 2019.* They “declined” slightly to $16.49 in 2021. The company has already booked $11.31 a share in the first quarter, and we regard our 2022 earnings estimate of $17.50 a share, “splitting” the difference between the two previous years, as conservative. Q1 2022 hedge fund letters, conferences and mo...