Intrinsic value of Quidel - QDEL

Previous Close

$32.47

  Intrinsic Value

$59.31

stock screener

  Rating & Target

str. buy

+83%

  Value-price divergence*

-105%

Previous close

$32.47

 
Intrinsic value

$59.31

 
Up/down potential

+83%

 
Rating

str. buy

 
Value-price divergence*

-105%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of QDEL stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -2.04
  48.00
  43.70
  39.83
  36.35
  33.21
  30.39
  27.85
  25.57
  23.51
  21.66
  19.99
  18.49
  17.14
  15.93
  14.84
  13.85
  12.97
  12.17
  11.45
  10.81
  10.23
  9.71
  9.23
  8.81
  8.43
  8.09
  7.78
  7.50
  7.25
  7.03
Revenue, $m
  192
  284
  408
  571
  779
  1,037
  1,352
  1,729
  2,171
  2,681
  3,262
  3,914
  4,638
  5,433
  6,299
  7,233
  8,235
  9,303
  10,436
  11,631
  12,888
  14,206
  15,585
  17,024
  18,524
  20,086
  21,710
  23,399
  25,154
  26,978
  28,873
Variable operating expenses, $m
 
  276
  392
  545
  740
  984
  1,280
  1,634
  2,050
  2,529
  3,076
  3,680
  4,361
  5,109
  5,922
  6,801
  7,743
  8,747
  9,812
  10,936
  12,118
  13,358
  14,654
  16,007
  17,417
  18,886
  20,413
  22,001
  23,651
  25,366
  27,148
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  196
  276
  392
  545
  740
  984
  1,280
  1,634
  2,050
  2,529
  3,076
  3,680
  4,361
  5,109
  5,922
  6,801
  7,743
  8,747
  9,812
  10,936
  12,118
  13,358
  14,654
  16,007
  17,417
  18,886
  20,413
  22,001
  23,651
  25,366
  27,148
Operating income, $m
  -4
  9
  16
  26
  38
  54
  72
  95
  121
  152
  187
  234
  277
  325
  376
  432
  492
  556
  624
  695
  770
  849
  931
  1,017
  1,107
  1,200
  1,297
  1,398
  1,503
  1,612
  1,725
EBITDA, $m
  19
  29
  42
  58
  80
  106
  138
  177
  222
  274
  333
  400
  474
  555
  643
  739
  841
  950
  1,066
  1,188
  1,317
  1,451
  1,592
  1,739
  1,892
  2,052
  2,218
  2,390
  2,569
  2,756
  2,949
Interest expense (income), $m
  6
  6
  10
  15
  21
  30
  40
  52
  67
  85
  106
  129
  155
  184
  215
  250
  287
  327
  370
  415
  463
  513
  566
  621
  678
  738
  801
  866
  933
  1,003
  1,076
Earnings before tax, $m
  -16
  3
  6
  11
  17
  24
  33
  42
  54
  67
  81
  105
  122
  141
  161
  182
  205
  228
  253
  280
  307
  336
  365
  396
  428
  462
  496
  532
  570
  609
  649
Tax expense, $m
  -2
  1
  2
  3
  5
  6
  9
  11
  15
  18
  22
  28
  33
  38
  43
  49
  55
  62
  68
  76
  83
  91
  99
  107
  116
  125
  134
  144
  154
  164
  175
Net income, $m
  -14
  2
  5
  8
  12
  18
  24
  31
  39
  49
  59
  77
  89
  103
  117
  133
  149
  167
  185
  204
  224
  245
  267
  289
  313
  337
  362
  389
  416
  444
  474

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  170
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  388
  332
  476
  666
  908
  1,210
  1,578
  2,017
  2,533
  3,129
  3,806
  4,567
  5,412
  6,340
  7,350
  8,440
  9,610
  10,856
  12,177
  13,572
  15,039
  16,577
  18,186
  19,865
  21,615
  23,437
  25,333
  27,303
  29,351
  31,479
  33,691
Adjusted assets (=assets-cash), $m
  218
  332
  476
  666
  908
  1,210
  1,578
  2,017
  2,533
  3,129
  3,806
  4,567
  5,412
  6,340
  7,350
  8,440
  9,610
  10,856
  12,177
  13,572
  15,039
  16,577
  18,186
  19,865
  21,615
  23,437
  25,333
  27,303
  29,351
  31,479
  33,691
Revenue / Adjusted assets
  0.881
  0.855
  0.857
  0.857
  0.858
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
  0.857
Average production assets, $m
  82
  120
  173
  242
  330
  440
  573
  733
  920
  1,137
  1,383
  1,660
  1,967
  2,304
  2,671
  3,067
  3,492
  3,945
  4,425
  4,932
  5,465
  6,023
  6,608
  7,218
  7,854
  8,516
  9,205
  9,921
  10,665
  11,439
  12,242
Working capital, $m
  191
  31
  45
  62
  85
  113
  147
  188
  237
  292
  356
  427
  506
  592
  687
  788
  898
  1,014
  1,137
  1,268
  1,405
  1,548
  1,699
  1,856
  2,019
  2,189
  2,366
  2,550
  2,742
  2,941
  3,147
Total debt, $m
  148
  238
  359
  517
  720
  971
  1,279
  1,645
  2,076
  2,573
  3,139
  3,775
  4,480
  5,255
  6,098
  7,009
  7,985
  9,026
  10,129
  11,293
  12,518
  13,803
  15,146
  16,548
  18,010
  19,531
  21,114
  22,759
  24,469
  26,246
  28,093
Total liabilities, $m
  188
  277
  398
  556
  759
  1,010
  1,318
  1,684
  2,115
  2,612
  3,178
  3,814
  4,519
  5,294
  6,137
  7,048
  8,024
  9,065
  10,168
  11,332
  12,557
  13,842
  15,185
  16,587
  18,049
  19,570
  21,153
  22,798
  24,508
  26,285
  28,132
Total equity, $m
  201
  55
  79
  110
  150
  200
  260
  333
  418
  516
  628
  754
  893
  1,046
  1,213
  1,393
  1,586
  1,791
  2,009
  2,239
  2,481
  2,735
  3,001
  3,278
  3,567
  3,867
  4,180
  4,505
  4,843
  5,194
  5,559
Total liabilities and equity, $m
  389
  332
  477
  666
  909
  1,210
  1,578
  2,017
  2,533
  3,128
  3,806
  4,568
  5,412
  6,340
  7,350
  8,441
  9,610
  10,856
  12,177
  13,571
  15,038
  16,577
  18,186
  19,865
  21,616
  23,437
  25,333
  27,303
  29,351
  31,479
  33,691
Debt-to-equity ratio
  0.736
  4.350
  4.560
  4.710
  4.800
  4.870
  4.910
  4.940
  4.970
  4.990
  5.000
  5.010
  5.020
  5.020
  5.030
  5.030
  5.040
  5.040
  5.040
  5.040
  5.040
  5.050
  5.050
  5.050
  5.050
  5.050
  5.050
  5.050
  5.050
  5.050
  5.050
Adjusted equity ratio
  0.142
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -14
  2
  5
  8
  12
  18
  24
  31
  39
  49
  59
  77
  89
  103
  117
  133
  149
  167
  185
  204
  224
  245
  267
  289
  313
  337
  362
  389
  416
  444
  474
Depreciation, amort., depletion, $m
  23
  20
  26
  33
  41
  52
  66
  82
  100
  122
  147
  166
  197
  230
  267
  307
  349
  394
  442
  493
  546
  602
  661
  722
  785
  852
  921
  992
  1,067
  1,144
  1,224
Funds from operations, $m
  4
  22
  30
  41
  54
  70
  90
  113
  140
  171
  206
  243
  286
  333
  385
  440
  499
  561
  628
  697
  771
  847
  927
  1,011
  1,098
  1,189
  1,283
  1,381
  1,482
  1,588
  1,698
Change in working capital, $m
  -8
  10
  14
  18
  23
  28
  34
  41
  48
  56
  63
  71
  79
  87
  94
  102
  109
  116
  123
  130
  137
  144
  150
  157
  164
  170
  177
  184
  191
  199
  207
Cash from operations, $m
  12
  12
  17
  23
  31
  42
  55
  72
  92
  115
  143
  172
  207
  247
  290
  338
  389
  445
  504
  567
  634
  704
  777
  854
  935
  1,018
  1,106
  1,197
  1,291
  1,389
  1,491
Maintenance CAPEX, $m
  0
  -8
  -12
  -17
  -24
  -33
  -44
  -57
  -73
  -92
  -114
  -138
  -166
  -197
  -230
  -267
  -307
  -349
  -394
  -442
  -493
  -546
  -602
  -661
  -722
  -785
  -852
  -921
  -992
  -1,067
  -1,144
New CAPEX, $m
  -12
  -39
  -53
  -69
  -88
  -110
  -134
  -160
  -187
  -216
  -246
  -277
  -307
  -337
  -367
  -396
  -425
  -453
  -480
  -507
  -533
  -559
  -585
  -610
  -636
  -662
  -689
  -716
  -744
  -773
  -804
Cash from investing activities, $m
  -17
  -47
  -65
  -86
  -112
  -143
  -178
  -217
  -260
  -308
  -360
  -415
  -473
  -534
  -597
  -663
  -732
  -802
  -874
  -949
  -1,026
  -1,105
  -1,187
  -1,271
  -1,358
  -1,447
  -1,541
  -1,637
  -1,736
  -1,840
  -1,948
Free cash flow, $m
  -5
  -35
  -48
  -63
  -81
  -101
  -122
  -145
  -169
  -193
  -217
  -243
  -266
  -287
  -307
  -326
  -342
  -357
  -370
  -382
  -393
  -402
  -410
  -417
  -423
  -429
  -435
  -440
  -445
  -450
  -456
Issuance/(repayment) of debt, $m
  -5
  90
  121
  158
  202
  252
  307
  367
  431
  497
  566
  635
  705
  775
  843
  911
  976
  1,041
  1,103
  1,165
  1,225
  1,284
  1,343
  1,402
  1,462
  1,522
  1,583
  1,645
  1,710
  1,777
  1,847
Issuance/(repurchase) of shares, $m
  -12
  16
  19
  23
  28
  32
  37
  42
  46
  50
  53
  49
  50
  50
  49
  47
  43
  39
  33
  26
  18
  9
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -17
  106
  140
  181
  230
  284
  344
  409
  477
  547
  619
  684
  755
  825
  892
  958
  1,019
  1,080
  1,136
  1,191
  1,243
  1,293
  1,343
  1,402
  1,462
  1,522
  1,583
  1,645
  1,710
  1,777
  1,847
Total cash flow (excl. dividends), $m
  -22
  71
  92
  118
  149
  183
  222
  263
  307
  354
  401
  441
  490
  538
  585
  632
  678
  722
  766
  808
  850
  891
  934
  985
  1,038
  1,092
  1,148
  1,206
  1,265
  1,327
  1,391
Retained Cash Flow (-), $m
  18
  -18
  -24
  -31
  -40
  -50
  -61
  -73
  -85
  -98
  -112
  -126
  -139
  -153
  -167
  -180
  -193
  -206
  -218
  -230
  -242
  -254
  -265
  -277
  -289
  -301
  -313
  -325
  -338
  -351
  -365
Prev. year cash balance distribution, $m
 
  164
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  217
  68
  87
  109
  133
  161
  191
  222
  255
  289
  315
  350
  385
  419
  452
  485
  517
  548
  578
  608
  638
  668
  708
  749
  792
  835
  880
  927
  975
  1,026
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  208
  63
  76
  90
  103
  117
  129
  139
  147
  152
  150
  149
  146
  141
  133
  123
  112
  101
  89
  77
  66
  55
  46
  38
  31
  24
  19
  14
  11
  8
Current shareholders' claim on cash, %
  100
  92.2
  86.3
  81.5
  77.7
  74.6
  72.0
  69.8
  68.0
  66.4
  65.1
  64.1
  63.3
  62.6
  62.1
  61.6
  61.2
  60.9
  60.7
  60.6
  60.5
  60.4
  60.4
  60.4
  60.4
  60.4
  60.4
  60.4
  60.4
  60.4
  60.4

Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications primarily in infectious diseases, POC women’s and general health, and gastrointestinal diseases. The company offers Sofia influenza A+B and QuickVue influenza tests to detect viral antigens of influenza type A and B; Sofia strep A fluorescent immunoassay and QuickVue Strep A tests to detect group A Streptococcal antigen from throat swabs; and Sofia Respiratory Syncytial Virus (RSV), QuickVue RSV, and Quidel Molecular RSV + human metapneumovirus tests for respiratory syncytial virus. It also provides various products to detect various herpes simplex virus (HSV) and herpes family viruses; H&V-Mix to isolate HSV, VZV, and Cytomegalovirus; R-Mix to detect Influenza A and B, RSV, Adenovirus, and Parainfluenza types 1, 2, and 3; Sofia S. Pneomoniae fluorescent immunoassay (FIA) to detect pneumococcal pneumonia and meningitis; Sofia Legionella FIA to detect Legionella pneumophila seorgroup 1 antigen; AmpliVue Bordetella assay to detect Bordetella pertussis; and Lyra Adenovirus assay to detect human adenovirus viral DNA. In addition, the company offers Sofia hCG fluorescent immunoassay and QuickVue pregnancy tests to detect hCG in serum or urine; Thyretain for the diagnosis of graves disease; QuickVue Chlamydia test to detect Chlamydia trachomatis; Solana Trichomonas assay for the diagnosis of trichomoniasis; and clinical and research products for the assessment of osteoporosis and evaluation of bone resorption/formation. Further, it provides Lyra Direct C. difficile assay to detect Clostridium difficile Toxin A or Toxin B genes; Super E-Mix and D3 IFA Enterovirus indirect fluorescent antibody products; QuickVue fecal immunochemical test to detect the presence of blood in stool specimens; and serological tests to measure antibodies circulating in the blood. Quidel Corporation was founded in 1979 and is headquartered in San Diego, California.

FINANCIAL RATIOS  of  Quidel (QDEL)

Valuation Ratios
P/E Ratio -76.3
Price to Sales 5.6
Price to Book 5.3
Price to Tangible Book
Price to Cash Flow 89
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -29.4%
Cap. Spend. - 3 Yr. Gr. Rate -12.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 73.6%
Total Debt to Equity 73.6%
Interest Coverage -2
Management Effectiveness
Return On Assets -2.2%
Ret/ On Assets - 3 Yr. Avg. -1.4%
Return On Total Capital -3.9%
Ret/ On T. Cap. - 3 Yr. Avg. -2.6%
Return On Equity -6.7%
Return On Equity - 3 Yr. Avg. -4.1%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 61.5%
Gross Margin - 3 Yr. Avg. 61.5%
EBITDA Margin 6.8%
EBITDA Margin - 3 Yr. Avg. 9.1%
Operating Margin -2.1%
Oper. Margin - 3 Yr. Avg. -1.8%
Pre-Tax Margin -8.3%
Pre-Tax Margin - 3 Yr. Avg. -6.3%
Net Profit Margin -7.3%
Net Profit Margin - 3 Yr. Avg. -4.7%
Effective Tax Rate 12.5%
Eff/ Tax Rate - 3 Yr. Avg. 27.4%
Payout Ratio 0%

QDEL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the QDEL stock intrinsic value calculation we used $192 million for the last fiscal year's total revenue generated by Quidel. The default revenue input number comes from 2016 income statement of Quidel. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our QDEL stock valuation model: a) initial revenue growth rate of 48% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for QDEL is calculated based on our internal credit rating of Quidel, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Quidel.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of QDEL stock the variable cost ratio is equal to 98.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for QDEL stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.1% for Quidel.

Corporate tax rate of 27% is the nominal tax rate for Quidel. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the QDEL stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for QDEL are equal to 42.4%.

Life of production assets of 10 years is the average useful life of capital assets used in Quidel operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for QDEL is equal to 10.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $201 million for Quidel - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 31.611 million for Quidel is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Quidel at the current share price and the inputted number of shares is $1.0 billion.

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COMPANY NEWS

▶ ETFs with exposure to Quidel Corp. : August 15, 2017   [Aug-15-17 04:54PM  Capital Cube]
▶ Quidel reports 2Q loss   [Jul-27-17 01:06AM  Associated Press]
▶ Quidel Reports Second Quarter 2017 Financial Results   [Jul-26-17 04:10PM  Business Wire]
▶ Quidel Diversifies With Alere's Triage Assets   [Jul-18-17 05:21PM  TheStreet.com]
▶ ETFs with exposure to Quidel Corp. : May 18, 2017   [May-18-17 01:58PM  Capital Cube]
▶ ETFs with exposure to Quidel Corp. : May 2, 2017   [May-02-17 04:31PM  Capital Cube]
▶ Quidel posts 1Q profit   [Apr-24-17 05:00PM  Associated Press]
Stock chart of QDEL Financial statements of QDEL
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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