QuidelOrtho (NASDAQ:QDEL) Releases FY24 Earnings Guidance

QuidelOrtho (NASDAQ:QDEL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.69-$1.91 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

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

QuidelOrtho Price Performance

NASDAQ QDEL traded up $4.90 during mid-day 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 company has a 50 day simple moving average of $42.27 and a 200 day simple moving average of $40.46. 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 quick ratio of 0.79 and a current ratio of 1.44.

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