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.

Analyst Ratings Changes

QDEL has been the subject of several research reports. Craig Hallum upgraded shares of 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. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. Finally, UBS Group initiated coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, QuidelOrtho has a consensus rating of “Hold” and a consensus target price of $58.83.

QuidelOrtho Stock Down 2.8 %

QDEL traded down $1.11 during midday trading on Thursday, hitting $38.85. 708,714 shares of the company’s stock traded hands, compared to its average volume of 963,316. The company has a market cap of $2.61 billion, a PE ratio of -1.44 and a beta of 0.12. The stock’s fifty day simple moving average is $42.34 and its 200-day simple moving average is $40.43. 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 has a one year low of $29.74 and a one year high of $75.86.

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.