QuidelOrtho (NASDAQ:QDEL) Releases FY24 Earnings Guidance

QuidelOrtho (NASDAQ:QDEL) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.69-$1.91 for the period, compared to the consensus estimate of $1.73. The company issued revenue guidance of $2.70-$2.80 billion, compared to the consensus revenue estimate of $2.71 billion. QuidelOrtho also updated its FY 2024 guidance to 1.690-1.910 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group assumed coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a report on Friday, August 16th. Finally, Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $57.00 in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.83.

QuidelOrtho Stock Up 12.6 %

QDEL stock traded up $4.90 during midday trading on Friday, hitting $43.75. The stock had a trading volume of 2,488,807 shares, compared to its average volume of 532,347. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -1.57 and a beta of 0.12. The business has a 50-day moving average of $42.27 and a two-hundred day moving average of $40.45. QuidelOrtho has a 52-week low of $29.74 and a 52-week high of $75.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.07% and a negative net margin of 66.25%. The firm had revenue of $727.00 million for the quarter, compared to analysts’ expectations of $642.16 million. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts forecast that QuidelOrtho will post 1.72 earnings per share for the current fiscal year.

About QuidelOrtho

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.