QuidelOrtho (QDEL) to Release Earnings on Wednesday

QuidelOrtho (NASDAQ:QDEL) will post its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect QuidelOrtho to post earnings of $0.54 per share for the quarter. QuidelOrtho has set its FY24 guidance at $2.40 to $3.07 EPS and its FY 2024 guidance at 2.400-3.070 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The company had revenue of $742.60 million during the quarter, compared to analysts’ expectations of $796.91 million. During the same quarter in the previous year, the company earned $1.74 EPS. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. On average, analysts expect QuidelOrtho to post $2 EPS for the current fiscal year and $4 EPS for the next fiscal year.

QuidelOrtho Stock Performance

NASDAQ:QDEL opened at $42.50 on Monday. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. QuidelOrtho has a 12-month low of $37.78 and a 12-month high of $94.86. The stock has a 50-day moving average price of $44.01 and a 200 day moving average price of $58.57. The stock has a market capitalization of $2.84 billion, a P/E ratio of -265.63 and a beta of 0.17.

Analyst Upgrades and Downgrades

QDEL has been the subject of several research analyst reports. UBS Group reiterated a “sell” rating and set a $42.00 target price (down previously from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Royal Bank of Canada cut their price target on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. JPMorgan Chase & Co. cut QuidelOrtho from a “neutral” rating to an “underweight” rating and cut their price target for the company from $66.00 to $37.00 in a report on Wednesday, February 14th. William Blair restated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.60.

Insider Buying and Selling

In other QuidelOrtho news, CFO Joseph M. Busky purchased 2,150 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $46.35 per share, with a total value of $99,652.50. Following the purchase, the chief financial officer now owns 2,150 shares of the company’s stock, valued at $99,652.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.